Steelboso makes industrial steel trading simpler for procurement teams and suppliers

Embracing digitalisation

For buyers and procurement teams, Steelboso offers seamless functionality. Users can easily navigate through pre-specified categories and a comprehensive list of steel materials. Alternatively, they can conveniently upload a pre-made Bill of Materials (BOM) file to request a quotation. Upon submission, registered suppliers promptly provide quotations, facilitating a swift bidding or selling process. Quotations typically conclude within minutes to a maximum of three days, depending on material complexity. Moreover, advanced filters, including preferred steel origin, certification, payment terms, and other vital conditions, allow for a customized purchase experience tailored to specific needs.

For sellers, manufacturers, and suppliers, Steelboso offers seamless connectivity. Upon registration, sellers receive instant notifications whenever their listed steel materials are requested via a buyer's RFQ. Alternatively, they can explore ongoing projects through the Selling page. Sellers then have the option to submit competitive quotations, effectively participating in the bidding process. Steelboso serves as the gateway for sellers to connect with potential clients and embark on a promising sales journey.

Progressing towards an ‘Open Marketplace’ model

While the platform currently operates as a "buyer-seller matching platform," plans for launching an "open marketplace," similar to online shopping platforms, are well underway in the development stages.

"We're currently refining the details and process flows for our open marketplace platform, with an expected launch in the first half of 2025. Introducing an open marketplace model alongside our established buyer-seller matching platform is the natural evolution of our services as we strive to cater to both large and small-scale industries," stated Yunki Jo, CEO of Market of Material, the parent company of Steelboso.

This model will primarily benefit small industries that typically require fewer materials, both in terms of volume and specifications.

Setting sights on the global arena

After successfully establishing their services in the Korean market, the company has set its sights on the global arena, particularly the Southeast Asian region, where significant industrialisation is currently underway. By establishing its ASEAN headquarters in Singapore, the company aims to initiate its globalization efforts.

"We need to be where businesses and industries thrive, and Singapore, being the hub of trade and industry in the ASEAN region, is the logical choice for amplifying our efforts to tap into the international market," added Yunki Jo.