Metalshub introduces reliable metals price indices
Metalshub launched the first price indices for ferroalloys and metals based on real transactional data from the Metalshub platform. Existing indices published by the industry’s price reporting agencies were based on data manually collected by journalists. These indices were dependent on voluntarily shared data, and the accuracy of the underlying price points couldn’t be validated.
We want to change the industry for the better, and we believe that digital transformation is the way to do this. Metalshub is more than a platform – it’s a mindset and a movement. It’s about people and the way people work.
Dr Sebastian Kreft, Co-founder of Metalshub
Due to the high liquidity on the Metalshub platform, there are sufficient and accurate price points available to publish reliable and trustworthy indices. From the start, Metalshub focused on creating a platform the helps the industry to negotiate and conclude contracts for metallic raw materials efficiently. The data from the negotiations support the industry to increase transparency and reduce the risk of price manipulation. Metalshub is currently providing six indices in different currencies to the industry and has already been able to sell several subscriptions within the first month of launch.
Metalshub found a way to make the process of metals trading intuitive in an online platform.
Ciprian Ursu, Purchasing representative of Vulcast SA
Fair and transparent competition is one of the key pillars of industrial development. Therefore, the EU has created a European Competition Network and has strict rules in place. However, metal prices have been subject to price influencing and opaque practices for a long time. By creating more transparency, Metalshub is supporting one of the strategic industries in Europe and helping to improve fair competition and protecting a significant amount of jobs in the industry.
Digital marketplaces have revolutionised multiple industries already – metals are next, and the Metalshub team will make it happen.
Pawel Chudzinski, Co-Founder & Managing Partner of Point Nine Capital
Metalshub has been in contact with EIT RawMaterials since 2018 with the first Start-up and SME Booster programme. In 2019, Metalshub presented at the Raw Materials Summit, the EIT RawMaterials flagship event, in Berlin and supported the Label Start-UP initiative. Metalshub successfully applied for funding in 2020 as part of the Booster Call in response to the COVID-19 crisis. EIT RawMaterials provides a good network of relevant target companies, some of which are already users of Metalshub, and we are happy to support Metalshub revolutionising the future of metals trading.