Based on a decision by the Aluminum Syndicate and Aluminum Union, and in order to meet the demands of the market for the commodity, IRALCO pledged to, for a period of five months, purchase the products of Almahdi Aluminum Co. at a higher price and present it to the domestic markets, added Hebatollah Fazeli.
He also noted that the first gathering of the aluminum industrialists held last week was to review the obstacles on the way of the industry in presenting its products to the domestic market and finding appropriate solutions in this regard. It was also decided to continue the weekly meetings until the existing problems are surmounted, the news report said on Friday.
Weekly Trade Review
In the 67th running week of the Tehran Metals Exchange (January 1st-5th), some 108,460 tons of steel, aluminum, copper and zinc were traded, the estimated value of which is about 547,303,120,000 rials.
According to the reports, the very statistics show a 30% and 22% decrease in weight and value respectively as compared with the past week.
In the aforesaid week, 105,880 tons of steel products, valued at 469,649,060,000 rials were transacted which has seized 97/62% and 85/81% of the market regarding the weight and value.
With regards to the copper products also, 2,440 tons of copper was transacted, the value of which is estimated to be 75,343,800,000 rials and has seized 2/25% and 13/77% of the market, concerning the weight and value criteria.
As for the aluminum products also, some 80 tons of aluminum, valued at 1,647,260,000 rials was transacted with has gained the third place through assuming 0/07% and 0/3% of the markets regarding weight and value.
It is worth mentioning that during the past week some 60 tons of zinc bars were transacted in the TME, the value of which is estimated to be 663 million rials, and has seized 0/06% and 0/12% of the market regarding weight and value.
From among these transactions, some 102,540 tons of metals (estimated value: 455,900,960,000 rials) were traded in forward purchase and 5,920 tons, evaluated 402,160,000 rials was transacted in cash.
TME witnessed some 119,260 tons of supply against 140,260 tons of demand.
RA/SA/MA
END
MNA