MINSK, 25 February (BelTA) – BUCE's Committee on Building Materials set the key principles and mechanism for selling construction industry products via BUCE for the domestic market during its meeting at the central office of the Belarusian Universal Commodity Exchange (BUCE), BUCE spokesman Roman Yaniv told BelTA.
The event was attended by representatives of the Ministry of Architecture and Construction, the Ministry of Antimonopoly Regulation and Trade, the Belarusian Cement Company (BCC) and the Research Institute Stroyekonomika.
The meeting analyzed the purchase and sale of cement via BUCE and determined the approximate volume of cement to be sold at the exchange trades this year and also the list of potential participants.
In 2022, up to 50% of the total volume of cement supplied by the Belarusian Cement Company to the domestic market, i.e. about 1.5 million tonnes, will be put up for auctions. As for buyers, at the first stage they will include any companies, except for enterprises engaged in the construction of facilities financed from the national budget and the funds equated to it.
Market participants are offered two types of exchange contracts: one-time and long-term ones. As for long-term contracts, the parties have the right to establish a fixed price or agree on its monthly adjustment taking into account the current exchange quotations.
The cement market proved to be ready to switch to the exchange mechanism following the trading sessions in February. The sales of Portland cement reached 59,000 tonnes, while the total sales in 2021 made up 154,000 tonnes. Exchange trade in cellular concrete blocks is active as well. In this regard plans are in place to expand the range of building materials sold through the BUCE. In future they can include hollow concrete blocks and landscaping elements, such as paving slabs and road edge.
Founded in 2004, the Belarusian Universal Commodity Exchange conducted its first trading session in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises with export and foreign companies with entering the Belarusian market. BUCE sells a wide range of metal, forestry, and agricultural products, industrial and consumer goods.
