BAKU, Azerbaijan, May 31. Sales at Iran Mercantile Exchange (IME) decreased by 11.6 percent in value and 27.4 percent in weight during the past Iranian week (from May 24 through 29) compared to the previous week (from May 17 through 22).
The data obtained by Trend from IME shows that during the past week the sales amounted to nearly 413 trillion rials or about $688 million worth of 2.43 million tons) against approximately 467 trillion rials (about $818 million) worth of 3.35 million tons of goods in the previous week.
The IME's industrial section sold 694,000 tons of goods worth 181 trillion rials (about $302 million), including iron ore, cement, steel, sponge iron, copper, aluminum, lead, molybdenum concentrate, and precious metal concentrates.
In the petrochemical section, 166,000 tons of products worth 84.5 trillion rials (circa $136 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 141,000 tons worth 35.4 trillion rials (about $59 million).
The open auction sold 1.42 million tons worth 106 trillion rials (around $177 million), while 9,610 tons worth 5.07 trillion rials (nearly $8.45 million) were sold in the sub-market.
Moreover, the agricultural section sold 200 kg of products worth 196 billion rials (circa $327,000).
Additionally, the IME's car section sold 240 pickups worth 3.03 trillion rials (nearly $5.05 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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