MINSK, 1 April (BelTA) – The Belarus-Russia forum on exchange trade in metal products will take place in Minsk on 16 April, the press service of the Belarusian Universal Commodity Exchange (BUCE) told BelTA.
“On 16-17 April, BUCE and the Russian Union of Metal and Steel Suppliers (RUMSS) will hold a reverse business mission in Minsk dedicated to exchange trade in ferrous and non-ferrous metals. The RUMSS delegation will include major metallurgical enterprises and metal traders from various regions of Russia who use BUCE’s platform to sell their products in Belarus. As part of the business mission, a business forum will be held on 16 April, during which Belarusian and Russian experts will discuss current trends and prospects for the development of the global metals market and its impact on the local markets of Belarus and Russia,” the press service said.
A separate session of the forum will focus on the use of exchange mechanisms in the procurement of ferrous and non-ferrous metallurgy products, as well as on the specifics of organizing sales activities on BUCE’s electronic platform.
This year, 62 Russian suppliers have concluded transactions for the sale of metals and metal products on BUCE’s exchange. As a result, metal products worth $13 million were sold, which was 6% more than in the first quarter of last year. Almost 57% of the total volume of transactions accounted for ferrous rolled metal, primarily pipes, sheets, bearings, and strips. Ferroalloys such as ferromolybdenum, ferrochrome, and ferrovanadium were also in high demand among Belarusian consumers, making up 32% of total sales.
BUCE and RUMSS have been cooperating since 2012, when the two organizations signed a partnership agreement. Today, RUMSS includes around 100 companies operating in the metals market, including metal producers, metal traders, and service metal centers.
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.
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