BAKU, Azerbaijan, May 3. Product sales at the Iran Mercantile Exchange (IME) grew by 15.7 percent in value and 12.9 percent in weight during the past Iranian week (from April 26 through 30) compared to the previous week (from April 19 through 23).
Data obtained by Trend from the IME shows that a total of 435 trillion rials (about $800 million) worth of products amounting to 2.71 million tons were sold in the reporting period against 376 trillion rials (circa $691 million) worth of products with a volume of 2.71 million tons in the previous week.
The industrial and mining sector accounted for 166 trillion rials (about $305 million), with 828,000 tons of products sold.
The products sold in this sector mainly included iron ore, cement, steel, sponge iron, copper, aluminum, lead, molybdenum concentrate, and precious metal concentrates.
Meanwhile, the petrochemical products sector of the exchange saw sales of 87.3 trillion rials (about $161 million) in the same period. This section primarily dealt with vacuum bottoms, bitumen, polymer materials, lube cuts, chemicals, sulfur, slaps wax, and gas.
The Kish Export Products sector at the exchange also saw sales worth 58.2 trillion rials (about $107 million) with 241,000 tons of products sold.
Open auctions at the exchange contributed to the sale of around 116 trillion rials (about $212 million) worth of 1.74 million tons of goods.
In addition, the sub-market section saw the sale of 42,800 tons of products worth 3.79 trillion rials (about $6.97 million).
A total of 112 passenger cars worth 4.33 trillion rials (about $7.96 million) were sold at the IME.
Additionally, 400 kg of agricultural products worth 392 billion rials (about $720,000) were sold at the agricultural products section of the exchange.
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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