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Economy
10 August 2020, 18:51

Export of metal products via BUCE 25% up in January-July

The Belarusian Universal Commodity Exchange. An archive photo
The Belarusian Universal Commodity Exchange. An archive photo

MINSK, 10 August (BelTA) – Export of metal products via the Belarusian Universal Commodity Exchange (BUCE) rose by a quarter in January-July, BelTA has learned.

In January-July 2020 the Belarusian Universal Commodity Exchange helped export 19,200 tonnes of metal scrap and goods made of ferrous metals and non-ferrous metals worth a total of Br32 million. In physical terms export increased by 48%. In monetary terms the volume of export rose by 25%.

The top sellers include the scrap of aluminum, tungsten, copper, magnesium, nickel and zinc, which was exported to Germany, Canada, Latvia, Lithuania, Russia, the USA, and other countries. The export of products made by the Belarusian steel mill BMZ – steel reinforcing bars and rolled steel – has been on the rise for the last three months. Nearly Br4 million worth of these goods has been sold so far this year.

According to Yevgeny Bureiko, Head of the Metal Products Trade Office at BUCE, the commodity exchange intends to focus on exporting metal products in the future. The strategy to guide BUCE's development till 2025 provides for increasing the share of exports with a high added value. The organization of weekly trade sessions to sell BMZ reinforcing bars can be considered the first step towards reaching this goal.

According to the source, BUCE's methods can be used to effectively promote and export any Belarusian metal products. Yevgeny Bureiko said: “We are now in negotiations on expanding the choice of BMZ products, which are available for sale. It will allow attracting buyers not only from Poland and Ukraine, but from other countries with a potentially high demand for such products. Apart from that, an agreement has been reached with Miory Rolling Mill. The company will start exporting cold-rolled flat products via BUCE in September and tinned iron closer to the end of the year.”

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.

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