BAKU, Azerbaijan, May 10. Iran Mercantile Exchange (IME) sold approximately 462 trillion rials (about $827 million) worth of 2.91 million tons of goods in the past Iranian week (from May 3 through 8).
The data obtained by Trend shows that sales during this period grew by 6.2 percent in value but decreased by 4.9 percent in weight compared to the previous week - from April 26 through May 1 (435 trillion rials or about $800 million worth of 3.06 million tons).
The IME's industrial section sold 877,000 tons of goods worth about 213 trillion rials ($381 million), including iron ore, cement, steel, sponge iron, copper, aluminum, lead, molybdenum concentrate, and precious metal concentrates.
In the oil products section, 167,000 tons worth 86.4 trillion rials ($155 million) were sold, mainly consisting of vacuum bottom, bitumen, polymer materials, lube cut, chemicals, sulfur, slabs wax, and gas.
The Kish Export Products section sold 153,000 tons worth 37.2 trillion rials ($66.7 million) were sold.
Additionally, the open auction sold 1.69 million tons worth 118 trillion rials ($212 million), while 22,200 tons worth 6.92 trillion rials ($12.4 million) were sold in the sub-market.
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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