Iran’s Mercantile Exchange sets up separate cement trade hall

Iran’s Mercantile Exchange sets up separate cement trade hall
22 September 2021

The Iran Mercantile Exchange (IME) will set up a separate hall for cement trades from 25 September 2021, according to IME’s director for market operation.

Following the announcement of the Ministry of Industry, Mining and Trade on banning the purchase and supply of cement outside the commodity exchange and determining the time for the presence of buyers and sellers of cement in the commodity exchange, the process of admission of cement companies and buyers to the exchange has accelerated.

Since 30 June, when cement started being traded on IME, 10.74Mt of cement have been offered, against a demand for 12.196Mt. Total trade volumes reached 8.785Mt.

Cement prices have fallen from IRR2.2m (US$52.34)/t at the beginning of the Iranian year (starting 21 March) to IRR1.2m/t in less than three months, reportedly due to the offering of cement on the IME. However, some experts and active players in the market say that ordinary pricing for cement has always challenged producers, hence the offering on the IME, according to the Tehran Times.

Published under Cement News