Jamshedpur: The Steel Recycling Business division of Tata Steel has launched a mobile application FerroHaatTM to source steel scrap from the traders. The company claimed that it will help the company organise the scrap markets and will also provide a reliable source of scrap metal to the steel industry.
A company press release said: “The FerroHaatTM App is a LIVE 24×7 market place to sell scrap. It is user friendly and hosts different sections like Bazaar for business transactions, Khaata for a snapshot of the supplier’s account, Samachaar for vital market information and Abhaar for recognition and appreciation initiatives.”
Yogesh Bedi, Chief, Steel Recycling Business, Tata Steel, said: “Scrap buying & selling is a tedious affair. The prices change by the hour, making the users apprehensive & vulnerable. The FerroHaatTM App makes the transactions easy & user friendly. The best part is, that it collaborates with the existing scrap yards & traders and provides them with a transparent platform with stability in prices. Large transactions can now be done with a click of a few buttons.”
The company claimed that the idea behind the launch of FerroHaatTM and digitalising the scrap market is to provide an easy- to-do-business platform for traders.
It said that by providing a transparent and robust platform for trading in scrap metal, FerroHaatTM will remove element of uncertainty in this business.