Belarusian steel mill BMZ to sell products to Ukraine via BUCE
MINSK, 29 May (BelTA) – The products of the Belarusian steel mill BMZ will go to Ukraine via the Belarusian Universal Commodity Exchange (BUCE), BelTA learned from spokesman for the Belarusian Universal Commodity Exchange Roman Yaniv.
“Today, the BUCE has launched weekly trading in BMZ products on the Ukrainian market. In line with the agreement with the BMZ, only one commodity position, i.e. reinforcing bar A500C, will be exported at the initial stage, with the supply to the border of Belarus,” Roman Yaniv said.
With the growing interest from Ukrainian buyers, there are plans to expand the range of products. “We started active cooperation with the Belarusian steel mill in terms of exports only at the end of last year. The first joint project was trading in rebars to the Polish market. We managed to attract a number of major buyers and organize regular deliveries of rebars to Poland on favorable terms for the BMZ. In this regard, we decided to expand the geography and use the platform in trading with Ukraine. It is still too early to make any forecasts, but with the stable demand, we will ask the BMZ to put up for trading other steel products,” said head of the department of trading in steel products at the BUCE Evgeny Bureiko.
The Belarusian Universal Commodity Exchange was set up in 2004. It conducted its first auctions in June 2005. The BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises with exporting products and foreign companies with entering the Belarusian market. BUCE sells a wide range of metal, forestry, and agricultural products, industrial and consumer goods.
A total of 268 Ukrainian companies were accredited at the Belarusian Universal Commodity Exchange as of 1 May 2020. Most transactions are made in soybean meal, wheat, barley and construction materials.