Modernising trading
thyssenkrupp Materials Services has launched an online marketplace called SteelBuy , with the aim of revolutionising traditional trading in industrial metals .
Text & image by thyssenkrupp
The end-to-end platform primarily targets excess inventory and stands out by anonymising buyers and sellers , reducing the effort required to close deals , managing payments and logistics , and offering sellers 24 / 7 access to a global market . As a result , the platform addresses aspects that have previously presented barriers to trade . Terry Sargeant , CEO of SteelBuy , says : “ The need for sellers to keep their competitors in the dark about excess inventory , as well as the effort required to find buyers , are the root causes of problems in the market . These are exacerbated by traditional metal trading methods . The result is that it is difficult for buyers to find these inventories as well as for sellers to identify the appropriate buyers .”
Technology offers networking The technology behind SteelBuy provides seamless and efficient trading of metals by enabling mills , service centres , dealers and end users to buy as well as sell anonymously online anytime , from anywhere . The algorithms connect buyers and sellers quickly and directly . In addition , dashboards provide realtime sales and purchase data , enabling dynamic pricing by sellers . SteelBuy is a corporate venture of thyssenkrupp Materials Services , which is developing new is developing
new innovative business models as part of its “ Materials as a Service ” strategy .
Platform evolution SteelBuy was originally developed to support steel service centres and stockholders in the sale of lowturnover stock . The platform has since evolved into an online marketplace that manages the entire transaction process from specification to credit check and payment to logistics in one step , anonymously , securely and in a matter of minutes .
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