Uzbek commodity exchange starts trading Kazakh cement on regular basis

Business Materials 1 February 2018 14:26 (UTC +04:00)

Tashkent, Uzbekistan, Feb. 1

By Mamed Dashdemirov – Trend:

The Uzbek commodity exchange has started trading Kazakh cement on a regular basis, beginning with January, 2018, trade organizing director of “UZEX“ JS Aziz Abduganiev told Trend.

Portland cement of CEM II/A-P 32,5R and CEM II/B-L 32,5R types is currently quoted on the exchange. Security amount for the trade admission is 2 percent. Terms of supply are EXW (ex works) from Tashkent.

According to the decision of the President of Uzbekistan from January 17, 2018, several types of imported production, including cement, have been given an advantage on customs charges. Cement is being sold exclusively on the commodities exchange save for specific cases mentioned in the document.

Importers are free to enjoy the customs advantage when trading production on the exchange, Abduganiyev told.

Approximately one thousand clients take part in the trading process and more than 300 deals are completed in the construction segment of the exchange market on a daily basis.

A client must get an accreditation to list the imported production on the exchange and apply to UZEX Listing Committee for his goods to be quoted. All the mentioned procedures take no more than a day of time on the exchange.

Particularly, there is a 17 percent decrease of the cement price during the last 10 trading days. Minimal prices for the most popular cement types varied from 415,000 to 435,000 soums per ton during the trade sessions.

According to traders the decrease in the prices is reasoned by several market conditions. Particularly, the daily volume of the traded cement for the accounted period increased by 17 percent, whereas its market price showed a 20 percent decrease in average. Lowering of the seasonal demand and poor weather had a slight effect on the market conditions as well.

(8,175.77 soums = 1 USD on Feb. 1)