BUCE expanding co-operation with Chinese metal manufacturers

As part of measures to expand the range of Chinese metallurgical enterprises that sell metal product at stock auctions, the Belarusian Universal Commodity Exchange has accredited a new stockbroker from Zhejiang Province, Wenzhou Ruijun Steel Co. Ltd., that has been liaising with BUCE since 2021 and has significant experience in using the exchange mechanism for the supply of rolled metal products to the domestic market, sb.by reports with reference to BUCE press service

As a broker, Wenzhou Ruijun Steel intends to focus on attracting Chinese rolled steel manufacturers to the stock exchange, which will help increase the supply of these products at stock auctions and, as a result, provide more favourable procurement conditions for domestic consumers.

“Against the background of declining global demand for metallurgical products, Chinese manufacturers have begun to actively take an interest in the Belarusian market, and use stock trading as an entry point – as seen in the number of residents of the People's Republic of China accredited on the stock exchange and the dynamics of exchange transactions with metal products. In particular, in 2024, ninety new companies from China entered the auction, while the exchange imports of Chinese metal to Belarus increased in value almost 6-fold compared to 2023. The structure of transactions was dominated by pipe and sheet metal. The joining of a broker specialising in metal products will certainly have a positive impact not only on sales of Chinese metal in Belarus, but will also give an additional impetus to the development of co-operation between our countries in the exchange sector," BUCE spokesman Roman Yaniv noted.

As of January 31st, 2025, 252 residents of the People's Republic of China were accredited to BUCE, four of whom had the status of stock brokers. By the end of 2024, the amount of exchange transactions of Chinese companies on the Belarusian exchange increased 1.7 times, reaching $133.4m.