Steel markets have been extremely volatile in the past few months, shifting from all-time lows in the aftermath of the pandemic to all-time highs in recent weeks given the current lack of steel supply. The turmoil has been exacerbated by the difficulties in importing steel and a combination of price hikes in both raw materials and logistics.
While it has been more difficult to source steel within Europe, Vanilla Steel has accelerated its development with monthly listed tonnage that has more than doubled since October going from 3,400T to 8,700T in January (+154%), despite the current slowdown.
“We are building a secondary market for the European steel ecosystem to help them trade steel that is available for immediate sale more efficiently” says co-founder Alexis Ducros, The platform offers a one-stop-shop for buyers, where they can go and find excess material across Europe with presence in 30 countries. “The number of European steel suppliers that have joined Vanilla Steel has now reached 50 and we are offering carbon steel, alloy steel and stainless steel.”
Every Monday, new auctions are published on the platform. If the material is suitable for the needs of the buyers, an order can be made in a few clicks and logistics services (both truck and freight) can additionally be booked directly.
“We are trying to build a customer-centric digital product that fits the needs of the steel industry”, added Mr Ducros. The name Vanilla Steel indicates its ambition to bring simplicity (“plain vanilla”) to the steel industry through innovative solutions.
Last but not least, Vanilla Steel has also a positive impact on the environment: steel products get their life expectancy extended, therefore avoiding unnecessary scrapping and reducing the carbon footprint of the steel industry.