MINSK, 17 March (BelTA) – A number of major Russian metal producers and metal traders have mentioned their plans to sell more metal products via the Belarusian Universal Commodity Exchange (BUCE). These companies took part in a webinar on exchange trade with Belarus. Organized with assistance of the Economic Development Ministry of Russia's Chelyabinsk Oblast, the webinar took place on 17 March, BUCE Press Secretary Roman Yaniv told BelTA.
In particular, interest in more actively using BUCE's capabilities was mentioned by representatives of PAO Chelyabinsk Forge-and-Press Plant, OOO Foundry, and OOO MMK Trading House. The companies are primarily interested in selling more ferrous rolled products that enjoy a steadily high demand among Belarusian industrial enterprises.
According to Head of BUCE's Metal Products Trade Office Yevgeny Bureiko, about one fourth of the ferrous rolled products Belarus needs is bought via the Belarusian Universal Commodity Exchange.
About 800 sellers and buyers participate in trade in ferrous metals every day. The sum of deals resulting from one trade session can be as high as €2 million. In January-February 2021 Belarusian enterprises bought over 62,000 tonnes of ferrous metals. Russian metal represented a considerable share of this figure. “This is why it is very important for us to attract the largest Russian metal producers to BUCE. Chelyabinsk Oblast is definitely the leader in the sphere of ferrous metallurgy among other regions of Russia. In turn, by utilizing BUCE's capabilities, Chelyabinsk foundries will get direct access to procurement departments of the leading Belarusian industrial enterprises. Benefits for both sides are obvious,” the BUCE representative stressed.
In 2020 BUCE helped sell 859,000 tonnes of metal products worth a total of Br1.2 billion.
The public joint-stock company (OAO) Belarusian Universal Commodity Exchange was established in 2004. The first trade sessions took place in June 2005. BUCE is one of the largest mercantile exchanges in Eastern Europe. Its key function is to assist Belarusian companies with exporting their products and assist foreign companies with entering the Belarusian market. The commodity exchange facilitates trade in metals, timber, agricultural products, and a broad choice of industrial and consumer goods.
