EghtesadOnline: The total value of Iran Mercantile Exchange trading in the previous fiscal (March 2018-19) rose 52% compared to the earlier year to reach 1,786 trillion rials ($13.5 billion).
According to imereport.ir, 884.3 trillion rials ($6.6 billion) worth of goods weighing over 24.8 million tons were traded in the year in the IME spot market, registering 7% decline in volume and 77% growth in value.
During the period, 7.7 million tons of mineral and industrial products valued 327.4 trillion rials ($2.4 billion) were traded on the IME. Steel products held the lion’s share of the volume of the deals with over 6.4 million tons.
Traders also traded 230,000 tons of copper, 118,000 tons of aluminum, 670,000 tons of iron ore, 195,500 tons of sponge iron, and 25,000 tons of cement, Financial Tribune reported.
With regard to agricultural products, about 2 million tons of different types of crops valued 26.4 trillion rials were traded in the spot market.
The traded products include 1.6 million ton of wheat, 22,000 tons of barley, 11,000 tons of corn, 180,000 tons of sugar, 66 tons of saffron, 3,350 tons of seeds oil, 52,000 tons of oil, and 1,420 tons of dates.
In the petrochemical and petroleum sector, traders bought and sold 4.6 million tons of petrochemical products and 10.3 million tons of petroleum products in the previous fiscal valued 307 trillion rials and 219 trillion rials respectively. During the period, 1.4 million tons of chemicals, 3.2 million tons of polymeric materials and 1,740 tons of different gases were traded via the IME.
In the IME financial market, a total of 2.3 billion deals worth 77.9 trillion rials were conducted in the previous fiscal, which compared with the year earlier, indicates 270% and 386% rise in volume and value of trades respectively.
Likewise, 148.8 million standard parallel salaf contracts worth 20.4 trillion rials were conducted during the period under review. In addition, 95.8 million commodity-based certificates of deposits valued at 18 trillion rials were traded. The value of commodity-based Exchange Traded Funds reached 38.6 trillion rials in the last fiscal.
Standard parallel salaf is an Islamic contract similar to futures, with the difference being that the contract’s total price must be paid in advance.
Derivatives and Side Market
Traders in the IME conducted over 15.3 million futures contracts and 23,621 option contracts collectively worth over 824 trillion rials ($6.2 billion) in the outgoing fiscal registering 258% and 25% growth in volume and value respectively, compared to the previous fiscal.
In addition, over 2,734 tons of steel, 8,435 tons of scrap, 18,491 tons of polymer, 24,551 tons of agricultural products, 4,722 tons of chemicals, 16,755 tons of minerals and 10 tons of copper were traded in the side market.