BUCE sets pre-trading price corridor for sawn timber from 9 to 28 Jul 2021
MINSK, Jul 12 - PrimePress. The Belarusian Universal Commodity Exchange (BUCE) has introduced a pre-trading price corridor with fixed ceiling for the period from July 9 to July 28, 2021 to curb growth of internal prices to be applied to any standard sizes and delivery terms for sawn timber, BUCE reports.<br> <br> According to BUCE, this is done to mitigate price fluctuations in conditions of high volatility in this segment. The goal is to prevent bids for sale at an initially inflated price. Together with the increase in the number of sellers and the volume of trading, this measure will help stabilize prices and prevent feverish demand on the part of the buyers,” reads the report.<br> <br> The Belarusian Universal Commodity Exchange conducts sessions to sell sawn timber on the domestic market on a weekly basis, around 2,000 cubic meters for sale on average. The number of transactions tripled in the first half of 2021 to 1,684, and the amount increased four-fold to Br28.9 million ($11.226 million at the rate of National Bank of Belarus). Only buyers of sawn timber for their own production and/or consumption, are admitted to the auctions.<br> <br> The Belarusian Universal Commodity Exchange OJSC was established in 2004. The first auction took place on June 2, 2005. BUCE has accredited 26,254 companies, including brokers’ clients and 5,218 non-residents. End<br> <br>
2021-07-12
Primepress
BUCE sets pre-trading price corridor for sawn timber from 9 to 28 Jul 2021
According to BUCE, this is done to mitigate price fluctuations in conditions of high volatility in this segment. The goal is to prevent bids for sale at an initially inflated price. Together with the increase in the number of sellers and the volume of trading, this measure will help stabilize prices and prevent feverish demand on the part of the buyers,” reads the report.
The Belarusian Universal Commodity Exchange conducts sessions to sell sawn timber on the domestic market on a weekly basis, around 2,000 cubic meters for sale on average. The number of transactions tripled in the first half of 2021 to 1,684, and the amount increased four-fold to Br28.9 million ($11.226 million at the rate of National Bank of Belarus). Only buyers of sawn timber for their own production and/or consumption, are admitted to the auctions.
The Belarusian Universal Commodity Exchange OJSC was established in 2004. The first auction took place on June 2, 2005. BUCE has accredited 26,254 companies, including brokers’ clients and 5,218 non-residents. End