Strong and United!
Düsseldorf, 1st March 2022 – Bringing positive change to the metals industry was the vision when Frank and Sebastian founded Metalshub in 2016. From day one, Metalshub has conducted thorough KYC checks on all registered companies and continues to heavily invest in supply chain visibility. Knowing your counterparties and their ultimate beneficial owners in the light of the current events in Ukraine has become ever more important. As a reaction to the war, Metalshub is prioritizing a set of initiatives to support companies dealing with what a week ago were still unforeseen risks.
The Metalshub team condemns the Russian attacks against Ukraine. It condemns the violence that is killing and wounding so many innocent people. It is a devastating attack on a 44 million people European democratic country that touches us deep in our hearts and values.
This war also has significant consequences for the steel industry. Procurement Executives in steel mills are faced with two risks. First, identifying existing and potential suppliers which are impacted by the newly imposed US and EU sanctions. Second, supply chain disruptions which could lead to supply shortage. Prices for raw materials will likely become even more volatile than they have been in 2021. Therefore, Metalshub aims to support its customers by managing supply chain risks and boosting resilience.
Firstly, Metalshub provides transparency. More precisely, Metalshub is putting even more focus on KNOW-YOUR-CUSTOMER (KYC) checks and reaches out to all companies with an elevated risk for sanctioned shareholders and/or ties to the Russian government. It can thus create a safe trading environment by ensuring that sanctioned companies are not part of the Metalshub community.
Secondly, Metalshub helps its customers to build supply chain resilience. Since 2017, Metalshub has developed a wide and deep supplier network across many countries. In these times of uncertainty Metalshub wants to help its customers to identify suppliers who can fill the gaps in case of supply disruptions.
The crisis in Ukraine is impacting innocent people leading to great suffering. In reaction to this, Metalshub's employees are taking action. They are bringing meaningful help to the Ukrainian refugees by investing resources, by providing a shuttle service between the Polish-Ukrainian border and Germany and housing for those in need.
With many team members directly impacted and with families in danger in Ukraine, Metalshub will continue to speak up and support where it can, stay strong Ukraine!
Metalshub is one of the pioneers of digital transformation in the metals industry. The tech start-up was founded in 2016 in Düsseldorf by Dr. Sebastian Kreft and Dr. Frank Jackel with the mission to drive digital innovation in the metals industry. Metalshub's digital supply chain solution can help reduce costs and CO2 emissions. With over 100 subscribers to their price indices, Metalshub offers a wide range of price data (FeMo, Nickel, Manganese Metal Flakes, FeV, FeTi, FeChr, FeSi...). Plus, more than 1,300 companies are already using Metalshub, including more than 300 steel mills and foundries that have digitised their purchasing processes with Metalshub. Since the launch of the platform in 2017, more than 1 billion USD in trading volume was concluded one the Metalshub platform.