Chinese Aluminum Producers to Collaborate with Belarusian Universal Commodity Exchange
Chinese metallurgical enterprises specializing in the production of aluminum and its alloys have expressed a strong interest in partnering with the Belarusian Universal Commodity Exchange (BUTB) to participate in exchange trading of metal products. This collaboration aims to introduce aluminum pipes, profiles, sheets, foil, and other in-demand products to the Belarusian market through the BUTB platform. The addition of new foreign suppliers will expand the range of rolled aluminum products available, offering Belarusian consumers more favorable purchasing conditions.
These agreements were reached during negotiations held by BUTB representatives at the international exhibition "Aluminium China 2024," which took place from July 3-5 in Shanghai. Over 20 Chinese metal producers declared their readiness to enter the Belarusian exchange commodity market. Individual consultations on accreditation at BUTB will be organized for these producers in the near future."
Non-ferrous metals and their products are traditionally in high demand among Belarusian traders, and this year is no exception. In the first half of the year, the domestic market sold 2.6 thousand tons of non-ferrous metal products, a 20% increase compared to the same period in 2023. The most traded items included aluminum, brass, and bronze bars, aluminum strip, aluminum casting alloys, aluminum profiles, sheets and plates, as well as copper anodes and wire," stated the press service of BUTB. The main foreign sellers of these products on the exchange are currently companies from Russia and China, primarily manufacturing plants, which minimizes risks for domestic buyers and ensures lower prices.
The introduction of new aluminum producers from China at the auction is expected to positively impact the volume of sales and increase the economic benefits for Belarusian enterprises. In the first half of 2024, Belarusian economic entities saved approximately $55 million by purchasing metal products through exchange trading, facilitated by a highly competitive environment and a diverse range of suppliers, including non-residents. Currently, 202 Chinese residents are accredited on BUTB, three of whom hold stock broker status.
