BAKU, Azerbaijan, August 5. Nearly 1.94 million tons of products worth 232 trillion rials (about $585 million) were sold at the Iran Mercantile Exchange last Iranian week (from July 27 through August 1, 2024), Trend reports via the exchange.
The mining and industrial divisions of the Iran Mercantile Exchange sold 1.64 million tons of goods during the reporting period, with a total value of 91.4 trillion rials, or approximately $231 million.
Iron ore, cement, steel, sponge iron, copper, aluminum, lead, molybdenum concentrate, and precious metal concentrate were mainly traded in this sector of the exchange.
Besides, during the mentioned period, 327,000 tons of products worth 48 trillion rials (about $121 million) were traded in the petrochemicals sector of the Mercantile Exchange.
Bitumen, polymer substances, chemicals, sulfur, gas, and others were mainly sold in this sector of the Mercantile Exchange.
A whopping 4,630 tons of products, valued at a mind-boggling 1.36 trillion rials (approximately $3.43 million), were also snapped up in the sub-market sector of the Mercantile Exchange.
To note, the Iranian Mercantile Exchange functions to provide many products and set prices. The price of products at the exchange is determined based on supply and demand. The Iranian Exchange and Securities Organization advocates that the wholesale sale of strategically important products should be carried out by the Mercantile Exchange.
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