BAKU, Azerbaijan, May 17. Iran Mercantile Exchange (IME) sold approximately 487 trillion rials (about $850 million) worth of 2.63 million tons of goods in the past Iranian week (from May 10 through 15).
The data obtained by Trend from IME shows that sales during this period grew by 5.4 percent in value but decreased by 9.7 percent in weight compared to the previous week - from May 3 through 8 (nearly 462 trillion rials or about $805 million worth of 2.91 million tons).
The IME's industrial section sold 748,000 tons of goods worth 227 trillion rials (about $396 million), including iron ore, cement, steel, sponge iron, copper, aluminum, lead, molybdenum concentrate, and precious metal concentrates.
In the petrochemical section, 191,000 tons of products 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 171,000 tons worth 47.2 trillion rials (about $82.3 million).
The open auction sold 1.5 million tons worth 251 trillion rials (around $437 million), while 23,800 tons worth 4.38 trillion rials (nearly $7.64 million) were sold in the sub-market.
Additionally, the agricultural section sold three tons of products worth 2.55 trillion rials (circa $4.44 million).
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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