BAKU, Azerbaijan, February 17. The Iran Mercantile Exchange (IME) totally sold 2.3 million tons of products worth roughly 312 trillion rials (about $553 million) during the last Iranian week (from February 8 through February 13).
The data obtained by Trend from the IME shows that in the reporting period the bourse's industrial and mining division sold 1.61 million tons of products (mainly iron ore, cement, steel, sponge iron, copper, aluminum, lead, molybdenum concentrate, and precious metal concentrate) worth 159 trillion rials (about $283 million).
Moreover, 44,900 tons of products (mainly vacuum buttons, bitumen, polymeric substances, lubricant, chemicals, sulfur, slaps, wax, gas, and many others) worth 29.3 trillion rials (about $52.1 million) were sold in the IME petrochemicals section during the mentioned period.
As many as 190,000 tons of products worth 19.1 trillion rials (about $33.9 million) were sold in the “Kish export goods” section of the Mercantile Exchange.
The IME's open auction sold 431,000 tons of products worth 94.7 trillion rials (about $168 million).
The exchange's sub-market division sold 4.14 trillion rials (about $7.35 million) worth of products weighing 21,300 tons.
Additionally, 90 cars amounting to 4.68 trillion rials (nearly $8.3 million) were sold in the IME.
To note, Iran's 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 IME.
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