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Steel Recycling Business, a division of Tata Steel, has launched FerroHaat, a first-of-its-kind mobile application, 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 launch of FerroHaat underlines Tata Steel’s commitment to foster trust, transparency and ease of doing business in the scrap industry, an official statement said.
The FerroHaat App is a LIVE 24x7 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.
Commenting in it, 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 App collaborates with the existing scrap yards and traders and provides them with a transparent platform with stability in prices."
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, the statement added.
Source: economictimes.indiatimes.com
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