BAKU, Azerbaijan, September 7. The sales value and volume at the Iran Mercantile Exchange (IME) decreased by 11 and 4.4 percent this Iranian week (from August 31 through September 5, 2024) compared to the last Iranian week (August 24-29, 2024), Trend reports via the exchange.
In the reporting period, 2.37 million tons of products worth 259 trillion rials (about $611 million) were sold against last week (2.48 million tons of products worth 292 trillion rials, or about $689 million).
Meanwhile, the IME's mining and industrial divisions sold 1.94 million tons of goods with a total value of 160 trillion rials (approximately $378 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, 427,000 tons of products worth 49 trillion rials (about $116 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 3,470 tons of products, valued at a mind-boggling 1.58 trillion rials (approximately $3.73 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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