Metalshub provides a digital marketplace, where physical metals and ferroalloys are efficiently bought and sold. Exactly one year ago, on the 13th of December 2017 at 10:44 a.m. the first transaction took place between Cronimet and Traxys. This is an excellent occasion for a review of the first year “live”.
Metalshub was founded with the vision to increase liquidity and reduce transaction costs for commodities which are not traded over an exchange. One year after the launch, more than 250 producers, consumers and traders of commodities from over 50 countries have registered, including industry leaders such as Outokumpu, Saarstahl, Gerdau, Traxys, Euromet, Hempel Intermétaux, V-Resource, Glencore and Anglo American.
To date, over 800 negotiations have taken place on the platform. In the most recent month, the transaction volume reached $7.5 million putting the annualized run rate at $90 million. Only pre-checked companies are allowed to trade on Metalshub. Therefore, it is not surprising that almost every transaction went smoothly. In 98% of the transactions, the buyer paid on time and in 97% of the transactions, the seller delivered within the agreed period and quality.