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Scrap Connection trading platform goes live

The Netherlands – Responding to the perceived need for a ‘€˜safer and more efficient trading environment’€™, the newly-founded Scrap Connection launched an industry-specific digital marketplace on July 12. The on-line platform serves to connect communities worldwide and ‘€˜provides a market that never sleeps’€™, says CEO Chris Yerbey.

The Scrap Connection marketplace covers a large part of the scrap chain, encompassing scrap processors located in Western countries and steel mills in the East. ‘€˜But, importantly, besides a tool to do good business, it is also a tool with which to foster and create business relationships,’€™ states Mr Yerbey. Some 31 scrapyards with a combined import and export value of Euro 240 million have already registered, he points out.

‘€˜We allow our site members to compose a profile and interact with other members of the industry,’€™ explains Sales Manager Johan Smit. ‘€˜This provides a real opportunity as it brings people together who otherwise wouldn’€™t have come across each other, resulting in interesting business deals.’€™ Due to the website being a gated community, traders are able operate undisturbed and in full privacy, he adds.

‘€˜What’€™s more, due to our extensive options, any trader can look up the score of another trader, thereby verifying how reliable he is and thus deciding whether to go ahead with a transaction or not,’€™ says Mr Smit. Should any issues arise with other members, such as a cargo that never made it to the docks or a postponed payment, this will be directly displayed via the public rating system. ‘€˜This ensures you know just who you’€™re dealing with,’€™ remarks Mr Smit.

According to Mr Yerbey, the first on-line auction is scheduled to take place on July 18, with the period leading up to that date seen as a ‘€˜review phase’€™ of sorts during which time members can map out their gains. Overall, he believes the scrap marketplace will turn out to be ‘€˜the next big thing’€™.

The CEO predicts that Scrap Connection will contribute around Euro 20-25 million a month in transactions come 2013. During the initial phase, this will involve only ferrous materials – with a subsequent expansion into other metals, notably aluminium.

The new platform has been in the works for around one and a half years and was selected to participate in the European start-up accelerator programme Bootcamp Start-up 2012, as a result of which it received significant funds as well as input from media-savvy mentors to help with its development.

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