MINSK, 20 August (BelTA) – Metal prices at the Belarusian Universal Commodity Exchange continue to decline, BUCE spokesman Roman Yaniv told BelTA.
In H2 2021, rolled metal has been showing a stable negative trend at BUCE. The ever narrowing gap between supply and demand coupled with price stabilization on the global market has caused a downward trend, which, most likely, will continue in the near future. This conclusion was made by BUCE analysts based on the monitoring of the exchange quotations for metal products in July-August of this year.
According to BUCE, in the first half of August, prices for the most popular among Belarusian consumers electric-welded and water-gas pipes decreased by an average of 10%, for hot-rolled and cold-rolled steel sheet - by 8-9%, angle and channel - by 5-7%, fittings and beam - by 4%.
“The fall in exchange quotations for almost all major types of rolled metal is, of course, a positive thing for domestic enterprises since cheaper raw materials make finished products more attractive to foreign buyers and, accordingly, fuels export growth. In addition, metal suppliers will not be included now to unreasonably inflate prices in the face of rush demand from consumers. Based on the analysis of the key pricing factors, BUCE decided to adjust the price corridor at the trading session in ferrous metals and products made of it from 25 August,” the press service said.
The Belarusian exchange metal market fully reflects the global trends and, above all, the trends in the Russian Federation, the main supplier of metal products to Belarus. Among the main reasons for this situation are market saturation, an increase in warehouse stocks, a decrease in demand, and a more flexible pricing policy by the largest manufacturers and trading houses.
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.
