Materials
Metals sector embraces new trading innovation
One of the biggest innovations to boost the metals industry in more than 50 years has reported a promising first nine months.
SteelBuy, an easy-to-use online marketplace where businesses can buy and sell metals quickly and securely, has recorded over 300 transactions and £1m+ sales revenue since it was launched at the start of the year. Users from across the UK are leveraging the technology to achieve faster and more efficient deals for their mild steel, stainless steel, and aluminium, with all the logistics and invoicing managed through the encrypted platform. Sellers can post their material with product specifications, test certificates and price per tonne and these can be found by potential buyers within seconds. With listings taking just
one minute to complete, it is estimated that 37 hours can be saved each week in the average purchasing and sales function. Importantly, all transactions are anonymised so buyers and sellers do not know who the other party is, essential when sensitive data, such as prices and stockholding, must remain confidential. “This is much more than just a place to buy and sell materials,” explained Terry Sargeant, CEO of SteelBuy.
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