BAKU, Azerbaijan, May 24. Iran Mercantile Exchange (IME) sold approximately 467 trillion rials (about $818 million) worth of 3.35 million tons of goods in the past Iranian week (from May 17 through 22).
The data obtained by Trend from IME shows that sales during this period decreased by 4.1 percent in value but grew by 27.3 percent in weight compared to the previous week - from May 10 through 15 (nearly 487 trillion rials or about $853 million worth of 2.63 million tons).
The IME's industrial section sold 887,000 tons of goods worth 209 trillion rials (about $367 million), including iron ore, cement, steel, sponge iron, copper, aluminum, lead, molybdenum concentrate, and precious metal concentrates.
In the petrochemical section, 189,000 tons of products worth 84.5 trillion rials (circa $148 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 131,000 tons worth 31.3 trillion rials (about $54.9 million).
The open auction sold 2.08 million tons worth 130 trillion rials (around $228 million), while 76,600 tons worth seven trillion rials (nearly $12.3 million) were sold in the sub-market.
Moreover, the agricultural section sold one ton of products worth 784 billion rials (circa $1.37 million).
Additionally, the IME's car section sold 60 pickups worth 3.64 trillion rials (nearly $6.38 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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