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21 June 2004 | 11:30 Code : 3791 Geoscience events
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Tehran Metal Exchange starts zinc ingot trading <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Tehran, June 20, IRNA -- In a bid to diversify the range of products
   offered at Tehran Metal Exchange (TME), the TME began trading
   in zinc ingots as of Sunday.
   Over 60 tons of zinc ingots with a purity rate of 99.5 percent were
   introduced to the market by three listed companies. Demand for the
   metal reached 820 tons and the total monetary value topped rls 612
   Currently there are 29 zinc producing units throughout the country
   with an annual production capacity of 120,000 tons and actual
   production of 80,000 tons per year.
   TME is expected to turn into an international market, especially
   in the Middle East, in near future given growing engagement of foreign
   producers in its dealings, said an official here in May.
   A TME broker Farzad Heybati told IRNA that
<?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Iran can serve as a
   center for exchange of iron sows and semis among neighboring states.
   Heybati said many neighboring states have thus far voiced
   readiness to get engaged in the exchanges with
Russia with the UAE
   already putting their iron products on sale on the market.
   He said many plants in the said countries hoped to be able to
   exchange their products at the TME shortly.
   He added that the neighboring states lacked such legal and
   systematic exchanges and most of their dealings are made on local
   For the first time South African aluminum sheets are to be offered
   on the market in December.
   The domestic consumers are quite enthusiastic for foreign items
   including imported products from
Russia, South Africa, Romania and
   the United Arab Emirates (UAE).


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