Iran Mercantile Exchange Streamlining Petchem, Oil Products Trade

Iran Mercantile Exchange Streamlining Petchem, Oil Products TradeWhile the Market Committee of “IME” (Iran Mercantile Exchange) has authorized companies that face oversupply of LDPE and HDPE film grades to offer their products on non-“Behinyab” days, IME is going to streamline its trade of petrochemical and oil products.

According to the CEO of Iran Mercantile Exchange, Hamed Soltani-Nejhad, “The measures to be taken will increase transparency of transactions, assured regular supply, adjusting the balance between supply and demand, and removing some obstacles that were introduced into the field in 2010”

He explained that one of the measures is to enable individual consumers of polymers, whose names are not listed in the “Behinyab” database and have no quota for purchasing their feedstock (raw materials) to place orders at the “IME” market for petrochemical products.

If the decision announced by the CEO of IME would be enforced as soon as possible, then some of the real consumers of polymers will pull out of the black (free) markets created by wealthy mobs that have the “Behinyab” codes by different means.

Also, Soltani-Nejhad noted, some previous restrictions on the trade of goods such as sulfur and some other oil products are being lifted.

He concluded by saying that the new measures are being adopted on the heel of other measures recently taken to streamline trade, such as lifting or raising a ceiling on prices, increasing purchase allowances according to market circumstances, etc.

The official added the measures will prevent price bubbles, establish sensible relations between demand and supply, include positive cooperation records in the pricing process, create a universal base for collecting data, and further synchronize the production and trade sectors.

According to Soltani-Nejhad, prevention of false price fluctuations through imposing transparency in the market and creation of logical relations between supplies and demands, positioning of a transparent and stable pricing system, and both sides’ control over these new decisions will result in a more stable market and fulfills the true requirements of the final consumers of the materials.

Edited By: Mehdi Sepehrvand (PIMI Editor)

Iran Mercantile Exchange Streamlining Petchem, Oil Products Trade
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