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BUCE: Expanding co-operation with China in the metallurgy sector

The Belarusian Universal Commodity Exchange (BUCE) is actively developing co-operation with Chinese producers of metals and metal products.

BUCE: Expanding co-operation with China in the metallurgy sector

For this purpose, the BUCE delegation took part in the Qingdao International Metal Processing Equipment Expo, which was held in Qingdao (Shandong Province, China) on 7-10 March 2024. During the event, meetings were held with more than 50 ferrous and non-ferrous metal producers from different regions of the PRC. Based on the results of the negotiations, a number of major suppliers of steel sheets, rolled pipes, foundry alloys and cable-conductor products expressed their willingness to participate in the exchange trading. It should be noted that these products are in high demand among Belarusian enterprises in the industrial and energy sectors, and the volume of their sales in the domestic market is constantly growing.

Thus, in 2023 461 thousand tonnes of ferrous metals and ferrous metal products were purchased through the BUCE, which is 20% more than in 2022.

For non-ferrous metals and non-ferrous metal products, the growth rate for the same period was 106%.

The positive dynamics continues in the current year.

At the end of January-February 2024, exchange sales of ferrous rolled metal products added 2%, and non-ferrous - 10%.

Last year, almost the entire volume of imports of metal and metal products through the exchange platform came from Russia and Armenia. In 2024, it is planned to focus on attracting suppliers from other countries, primarily China, the world's leading exporter of steel products. Currently, Chinese metal producers are already present on the exchange, which use the exchange mechanism to sell stainless steel pipes, sheets, wire, screws and pins in Belarus.

By 1 March 2024, 6,995 non-resident companies from 70 countries, including 167 from China, were accredited on the BUCE.

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SteelRadar Insight - Sayı 1 (Haziran 2024)

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