IME growth in trade value reaches 73 per cent

IME growth in trade value reaches 73 per cent

The volume was traded in cash and credit and on financial markets of the exchange within the framework of futures contracts, standard parallel SALAM contracts and certificate of depositary receipts (CDRs), experiencing a growth of 26% in terms of trade volume and a growth of 73% in terms of trade value compared to the same period of previous year.

IME’s financial market worth 446,000 billion Rials (over $13bn)

According to the report by the IME’s International Affairs and PR, over 1395 Hijri, the value of IME’s financial markets including derivatives markets, standard parallel SALAM contracts and certificate of depositary receipts (CDRs) surpassed 446,000 billion Rials and compared to the market value of 173,000 Rials in 1394 Hijri experienced a growth of 157%.

The derivatives market of IME, in 1395, played host to trading more than 3,245,000 gold coin futures contracts with over 390,000 billion Rials trade value and compared to the same period of the previous year experienced a growth of 91% and 134% in trade volume and value, respectively. Furthermore, 42,852 options contracts worth more than 503 billion Rials were traded on the same market.

Moreover, 7.1 million tons of commodities within the framework of standard parallel SALAM contracts and 453,000 of underlying assets were traded in certificate of depositary receipts (CDRs) out of which 10,082 gold coins were traded in CDRs. On this market, IME saw trade value of 55,000 billion Rials in trading standard parallel SALAM contracts and certificate of depositary receipts (CDRs) which, compared to the value of 7,000 billion Rials in 1394, has risen by over 596%.

 IME’s physical market worth 371,000 billion Rials (over $11bn)

Based on the report, in excess of 25,472,000 tons of various commodities worth more than 371,000 billion Rials were traded on the physical market of IME. The volume and value of the market, compared to the previous year, witnessed 10% and 25% of growth, respectively.

A 21% growth in trade value of metal and mineral commodities

Over this period, on metal and mineral trading floor, different groups of products including iron ore, aluminum, steel, zinc ingot, gold bullion, copper, cement, precious metals concentrates, molybdenum sulfur and metallurgical coke were traded.

The oil and petrochemical trading floor witnessed trading of bitumen products, polymer and chemical materials, slaps wax, insulation, argon, sulfur lumps and granulated sulfur, heavy and light lube-cut oil, and VB feed stock were traded on the export and domestic sectors. The agricultural trading floor played host to trading of commodities such as feed barley, maize, sugar, meals, frozen chicken, saffron, wheat and durum, rice, oilseed and crude vegetable oil.

The metal and mineral trading floor within the period witnessed trading of more than 9 million tons of commodities worth more than 155,000 billion Rials, compared to the same period last year, experiencing over 21.6% of growth in terms of trade value.

Out of the total transactions on this trading floor, approximately 6.8 million tons of commodities worth 116,000 billion Rials were traded in SALAM (physical forward). About 2.5 million tons of goods worth more than 40,000 billion Rials were traded in cash. Also, 5,740 tons worth 460 billion Rials were traded in credit.

On the steel group, more than 6,968,000 tons of commodities with over 117,000 billion Rials trade value were traded and compared to the same period of the previous year experienced growth of 4.2% and 27% in trade volume and value, respectively. Furthermore, on this trading floor, over 111,000 tons of aluminum, 1,490 tons of zinc ingot, 261,000 tons of copper, 126 tons of precious metals concentrates, 6,040 tons of molybdenum sulfur, 8,500 tons of metallurgical coke, 2,030,000 tons of iron ore and 5,500 tons of cement were traded.  620 Kg of gold bullion were traded on the same trading floor which compared to 1394 Hijri experienced growth of 3% and 19% in trade volume and value, respectively.

A 229% growth in agricultural commodities trade value

Over 1395 Hijri, more than 2,509,000 tons of agricultural commodities were traded that compared to the same period of the previous year experienced growth of 229% and 199% in trade volume and value, respectively.

Out of the total transactions on this trading floor, approximately 2.215 million tons of commodities worth 20,000 billion Rials were traded in cash. About 286,000 tons of goods worth more than 7,000 billion Rials were traded in SALAM (physical forward). Also, 7,260 tons worth 105 billion Rials were traded in credit.

On the feed barley group, more than 1,247,000 tons of commodities with over 8,000 billion Rials trade value were traded and compared to the same period of the previous year experienced a significant growth. Furthermore, on this trading floor, more than 342,000 tons of mazie, 11,360 tons of meals, 15,046 tons of frozen chicken, 12 Kg of saffron, 18,571 tons of rice, 50 tons of oilseed and 50,014 tons of crude vegetable oil were traded. Also, 400,698 tons of sugar valued at more than 9,000 billion Rials were traded on this trading floor.

Trading over 13 million tons of oil and petrochemical products

Over 1395 Hijri, in excess to 13 million tons of various commodities worth more than 184,000 billion Rials were traded on the oil and petrochemical trading floor that experienced growth of 7% and 16.32% in trade volume and value, respectively.

Polymers account for the highest transaction volume of petrochemicals so that 2,597,000 tons worth 96,000 billion Rials were traded that compared to the same period of the previous year experienced growth of 27% and 32% in trade volume and value, respectively.

On the chemical products group, trading of 961,000 tons of chemical products with over 17,000 billion Rials trade value was recorded and compared to the same period of 1394 Hijri experienced growth of 25% and 44% in trade volume and value, respectively.

On the oil products group, 5,227,000 tons of bitumen products worth over 40,000 billion Rials were traded and compared to the same period of 1394 Hijri experienced a growth of 20% in terms of trade volume. 350,000 tons of sulfur, 3.2 million tons of VB feed stock, 1,024,000 tons of lube-cut oil, 29,100 tons of slaps waxes as well as 44,527 tons of insulation are among the other commodities traded on this trading floor.

Trading over 30 billion Rials (over $924mn) of Various Commodities on Export Ring of IME

Over the last year, about 5 million and 748 thousand tons of different kinds of products worth more than 30 billion Rials were traded on export ring of IME. On this ring, two million and 30 thousand tons of iron ore worth more than 2 billion Rials for export to global markets were traded. Also, 3 million and 396 thousand tons of bitumen worth more than 26 billion Rials were traded on this ring. Moreover, 210 thousand tons of sulfur valued at more than 366 million Rials were traded. Other commodities traded on this ring include 44 thousand 527 tons of insulation, 31 thousand tons of agricultural products, 15 thousand 700 tons of lube-cut oil and 17 thousand 750 tons of VB feed stock.

Side market performance

Last but not least, on the side market of IME, over 1395 Hijri, 114 thousand 606 tons of goods in agricultural commodity groups, polymers, chemicals, scraps, metals and minerals, sulfate and lime, worth more than 1,472 billion Rials were traded.