Digital revolution

You are in a digital revolution

Digitalisation has become an integral part of our daily lives, transforming the way we shop, communicate, and conduct business. In the realm of materials trading, digitalisation has also brought significant changes and opportunities. thyssenkrupp has embraced this shift by introducing SteelBuy, an online platform that has been revolutionising the purchasing of steel coils, sheets, and plates in the UK over the past six months.

Launching SteelBuy

SteelBuy was launched by Terry Sargeant, the CEO, and his team in December 2022. More than just a marketplace for buying and selling materials, SteelBuy aims to shape the future of the industry, by providing customers with an effortless and sustainable digital purchasing experience. As an independent company with thyssenkrupp AG as the sole investor, SteelBuy was originally founded as a corporate venture at thyssenkrupp Materials Services. SteelBuy is on a journey to revolutionise materials trading by challenging the traditional “business-as-usual” mindset that has prevailed for years. Anonymity is a key feature of the platform, allowing participants to focus on what truly matters: product quality, availability, and price. Terry believes by making data secure and private, it enhances transparency and facilitates faster and more efficient transactions.

Technology that works

The platform’s intuitive interface enables companies to complete deals within minutes, saving valuable time in the purchasing process. Sellers can easily list their materials, providing detailed specifications, test certificates, and the price per tonne, while potential buyers can quickly find and purchase the desired products.

The integrated logistics, invoicing, and intelligent matching technology further streamline the user experience, ensuring efficient and fair transactions.

SteelBuy’s success lies in its ability to combine innovative technology with industry expertise, bringing new efficiencies to metals trading and distribution.

The vision is clear: to establish SteelBuy as the largest global online marketplace for the metals industry.

As CEO, Terry takes responsibility for setting the overall direction and strategy of the company, leveraging his 40 years of industry knowledge, market insights and experience.

The SteelBuy project has been Terry’s most exciting endeavour in his career. Despite nearing retirement, he postponed his plans to lead the development of the platform. Building a team from scratch and immersing himself in the latest technology has been both a privilege and a challenge. Terry acknowledges the industry’s skills shortage, especially with the increasing demand for digital solutions. Currently, the SteelBuy team consists of 16 full-time employees, five contractors, and several advertised vacancies.

Terry Sargeant firmly believes that digital solutions are the future of materials trading, offering increased efficiency and unlocking untapped potential. He emphasises the need for adaptation and states, “Technology is coming, and if we don’t embrace it, someone else will.” Terry’s motivation stems from the positive response of customers who appreciate the user-friendly nature and effectiveness of SteelBuy.

Final word

SteelBuy stands at the forefront of digitalisation in materials trading, challenging industry norms and empowering businesses with seamless and efficient digital purchasing experiences.

With a strong vision and a dedicated team, Terry is determined to make SteelBuy the largest global online marketplace for the metals industry. The future of materials trading is here, and SteelBuy is leading the way.

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