MINSK, 29 December (BelTA) – The Architecture and Construction Ministry is in favor of exporting more cement via the commodity exchange. The ministry's view was presented by Deputy Architecture and Construction Minister Alexander Sidorov during the second session of the exchange committee on cement in the headquarters of the Belarusian Universal Commodity Exchange (BUCE) on 29 December, BUCE Press Secretary Roman Yaniv told BelTA.
Alexander Sidorov said: “We've previously agreed that we are going to sell 10% of the total amount of cement exported by Belarusian cement mills via the commodity exchange. If the demand of foreign buyers rises, we are ready to raise the share of cement exported via the exchange. It is the official view of the ministry.”
In turn, Director General of Belarusian Cement Company Vladimir Kiselev noted that selling cement products is the key thing for the holding company. If export prices available via the commodity exchange are higher than those available via direct contracts, then respectively the volume of cement sold via the exchange will be raised. “Cement is a seasonal product. Demand for cement drops considerably in winter, bringing down prices. This is why exchange trade offers a way to get additional profits thanks to competition among buyers and a way to diversify target markets,” Vladimir Kiselev noted.
Participants of the session of the exchange committee on cement also discussed the possibility of more actively placing bids for selling cement in the direction of Lithuania, Latvia, Poland, and Ukraine. Results of off-exchange export trade in cement in December 2018 were summed up.
In September-December 2018 the Belarusian Universal Commodity Exchange helped export 24,400 tonnes of cement worth a total of $1.2 million. All the deals were closed on prepaid DAP terms (delivered at point).
