Steel Recycling Business, a division of Tata Steel, has launched FerroHaat, a first-of-its-kind mobile application (App) in the world, to source steel scrap from the traders. The new App is a major step by the Company to organise India’s scrap market while also providing a reliable source of scrap metal for the Steel Industry. The FerroHaat 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 FerroHaat 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 overriding principle behind the launch of FerroHaat and digitalising the scrap market is to provide an easy-to-do-business platform for traders. By providing a transparent and robust platform for trading in scrap metal, FerroHaat will remove element of uncertainty in this business. FerroHaat App is available on the Apple App Store and Google Play Store.
Tata Steel is setting up the first state-of-the-art scrap processing plant of 0.5 MnTPA capacity in Rohtak, Haryana. The recycling plant will primarily collaborate with local traders of scrap yards, car dismantlers other than small and medium steel industries in the National Capital Region (NCR) and Haryana region.
This initiative aims to provide the much-needed raw material fillip to the steel industry by making available quality processed ferrous scrap, streamlining the currently unorganised scrap supply chain, lowering the dependency on imports, and enhancing the transparency and efficiency in the entire value chain.
