The foreign customers of Iran Mercantile Exchange (IME) purchased over 100,000 tons of Gol Gohar Iron Ore Company's products in a single working day.
The Iranian company, which offered 100,000 tons of Iron ore in the IME's exports hall with the base price of $29 per ton on Monday, sold its offered products to foreign companies with better price of $34 per ton.
The IME was established on September 20, 2007 in accordance with article 95 of the new law of the Securities Market of the Islamic Republic of Iran and following the merger of the agricultural and metal exchanges of Tehran. The merger marked a new chapter in Iran capital market providing endless trading opportunities for the clients in and out of the country.
Various sectors of economy and national industry benefit from the exchange operation. The IME currently offers various services, including:
Performing as the first market providing access to the initial offering of the listed commodities in the IME,
Price discovery and price making for Iran's Over the Counter (OTC), secondary markets and the end users,
Providing venue for government sales and procurement purchases,
Providing Trading platform and user interface,
Providing Clearing & Settlement services,
Risk management,
Technology services,
Training and education of the market participants.