Two Chinese companies plan to trade timber products on SPIMEX - exchange

MOSCOW. Dec 21 (Interfax) - China's Suifenhe Hongguan Economic and Trade Co. and Manit (Beijing) Co. plan to start trading timber products on the St. Petersburg International Mercantile Exchange (SPIMEX), the exchange said in a press release.

Both companies have received status as clearing participants on the exchange, SPIMEX said.

Exchange trading in timber started on the exchange in 2014, with the volume totaling 4.012 million cubic meters in 2022.

Coal, oil, petroleum products, gas, metals, fertilizers, and agricultural products are also under consideration for exchange trading with the participation of Chinese suppliers in addition to trading timber products.

"SPIMEX is systematically developing international cooperation with friendly countries. A delegation of the exchange has taken two business trips to China this year," SPIMEX said. Specifically, a SPIMEX delegation in November presented the opportunities for organized trading in Guangzhou.