The commodity trade has been hugely affected by the United States and China trade war and has cost billions In deficit to the sector. But this trend will be changing soon as the talks on ending the trade war are on high optimism flame, and we can see this as the sale of commodities comes back on the rise in Iran.
Iran has been in the news for its differences with the United States and the accusations of the attack on the oil-rich regions of Saudi Arabia, but we are here to talk about Iran in a very different way. During weekdays ending up to October 31 and also in the first few days of November, while 440,084 tons of commodities worth over $404 million were traded at Iran Mercantile Exchange (IME) which has been the best growth commodity market has seen In a long time from a small nation like Iran, the trading volume and value experienced a growth of 58 percent and 18 percent, respectively which is good news for the Iranian markets. The best commodity futures in this trade were base metals, and precious metals, as 22 kg of gold bullion was recorded as traded by customers. This is good news for the Iranian markets, and this could be the boost that Iran needed in its markets after facing criticism and backlash by the United States.
This growth in commodities is just amazing, and in times of crisis and a slowing global economy, this is like a boon to the Iranian markets.
Tags : Iran Mercantile Exchange (IME), commodity trade, Iranian markets, economy, United States,