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BUCE reports fourfold rise in BMZ steel mill’s export to Poland

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MINSK, 5 July (BelTA) – The Belarusian steel mill BMZ has sold $4.3 million worth of reinforcing bars to Poland at trading sessions held by the Belarusian Universal Commodity Exchange (BUCE) since in January-June 2021, which was an almost fourfold increase year-on-year, with the pool of regular clients expanding steadily, BelTA learned from BUCE’s press service.

“BUCE and BMZ have cooperated in promoting Belarusian metal goods to foreign markets since late 2019. Their first joint project was to launch export trading sessions in steel reinforcing bars to the promising Polish market. Not every Polish company is ready to agree to such terms as 100% advanced payment and postponement of delivery, so it took time to attract potential buyers. At present, every trading session brings together at least ten Polish importers, while the first trading sessions featured just 2 or 3 companies. This ensures high competitiveness during trading sessions and stable growth in sales of Belarusian reinforcing bars to Poland. In view of favorable pricing trends in the Polish market, we expect supplies of BMZ products to this country to continue growing in the second half of 2021,” the press service noted.

BMZ exports its products via BUCE at weekly trading sessions in ferrous and non-ferrous metals, scrap metal and metal waste. A total of $11 million worth of such products have been sold to six foreign countries since the start of 2021.

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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