Vanilla Steel, an e-auction platform for excess volumes of carbon and stainless steels, has more than doubled the monthly volume of transactions since its launch in October, and enlarged its base of suppliers.
While it has been more difficult to source steel within Europe, the platform lifted the volume handled from 3,400 tonnes in October to 8,700t in January. The surge was achieved amid an extremely volatile market, exacerbated by the difficulties in importing steel, the Berlin-based company notes.
“We are building a secondary market for the European steel ecosystem to help them trade
steel that is available for immediate sale more efficiently,” Kallanish hears from Vanilla Steel co-founder Alexis Ducros.
The platform offers a one-stop-shop for buyers, where they can go and find excess material across Europe. The number of European steel suppliers that have joined Vanilla Steel has now reached 50, Ducros notes.
Every Monday, new auctions are published on the platform. An order can be made in a few clicks and logistics services can additionally be booked directly. The platform was founded last summer as a market for excess capacities that have accrued during the Covid-19 pandemic (see Kallanish passim).