Business news

MINSK, 2 April (BelTA) – Russian companies are ready to sell more metal products via OAO Belarusian Universal Commodity Exchange (BUCE). The relevant statement was made by President of the Russian Union of Metal and Steel Suppliers Alexander Romanov during the roundtable session held to discuss the production and consumption of ferrous and non-ferrous metals in the Republic of Belarus, BelTA learned from BUCE Press Secretary Roman Yaniv.

Alexander Romanov noted that Belarusian companies consume over 2.5 million tonnes of ferrous metals every year. About 25% of the figure is sold via the commodity exchange. It is primarily Russian metal. Since the output of ferrous metal products in Russia is expected to grow this year and the Belarusian side is interested in buying metal directly from producers, one may expect more metal to be sold via the Belarusian Universal Commodity Exchange. “As one of the largest industrial associations in Russia we will encourage it. Moreover, the price situation is rather favorable right now,” noted Alexander Romanov.

Apart from representatives of the Belarusian Universal Commodity Exchange and the Russian Union of Metal and Steel Suppliers the meeting gathered representatives of leading Belarusian industrial enterprises such as Belaruskali, BelAZ, MAZ, MTZ, Amkodor, Mozyr Oil Refinery, top managers of the largest Russian metal-making and metal-trading companies such as Severstal, TMK, ChelPipe, and VMZ (Vyksa Steel Works).

A presentation of opportunities for trading in metal products via the commodity exchange was arranged. The most important novelties in the operation of the digital trade platform of the Belarusian Universal Commodity Exchange in 2018 were highlighted.

The Russian Union of Metal and Steel Suppliers is Russia’s largest association of companies operating in various sectors of the metal products market. It was established in 1997 and numbers 89 members.