The steel industry is going high-tech with a new website that promises to shake-up the world of steel trading. This website uses a model akin to social networking sites and applies it to the steel industry, linking up steel buyers, sellers, and service providers into one central database known as the Steel Broadcast Network. Like many online networking sites, the Steel Broadcast Network provides its services free of charge. By relying only on optional fees for a variety of advanced marketing services, the Steel Broadcasting Network has created a cost-free avenue of communication for virtually all steel-related firms in the international marketplace. With such a clear cost advantage, the Steel Broadcast Network could potentially interlink all components of the steel supply chain into one, global, network. With instantaneous communication of prices, supplies, locations and of fers, the Steel Broadcast Network could radically change the topography of the steel industry, effectively interlinking every steel manufacturer and service provider within the global steel market with the click of a mouse. Of course, instantaneous communication is a double-edged sword. It offers unprecedented access to corners of the world market that would have otherwise been passed over by steel buyers. It offers obscure startups a chance to market their products globally, potentially landing contracts with multinational firms. And it allows for contracts, shipments, and supply-related information to accelerate to a level never-before imagined. But for precarious firms- both fragile startups and anemic veterans- the exposure to cutthroat competition from every city, town, and village could be the kiss of death. Only time will tell how these dynamics will play out: the basic rules of economics suggest that the increased competition and communication will be a net boon to the industry, but, in the near-run, it could be a rocky ride, with well known giants dying unexpected deaths, and young, tech-savvy upstarts rocketing onto the global arena. But today, with or without the upheaval of the industry, steel buyers, sellers, and service providers have access to a new vehicle of communication that will augment, and maybe one day predominate, their global marketing strategies. Founded in Spring Lake, Michigan in 2008, the Steel Broadcast Network has been growing rapidly, establishing itself as one of the premier means of steel trading for steel manufactures, steel service providers, and steel buyers. The steel industry is going high-tech with a new website that promises to shake-up the world of steel trading. This website uses a model akin to social networking sites and applies it to the steel industry, linking up steel buyers, sellers, and service providers into one central database known as the Steel Broadcast Network. Like many online networking sites, the Steel Broadcast Network provides its services free of charge. By relying only on optional fees for a variety of advanced marketing services, the Steel Broadcasting Network has created a cost-free avenue of communication for virtually all steel-related firms in the international marketplace. With such a clear cost advantage, the Steel Broadcast Network could potentially interlink all components of the steel supply chain into one, global, network. With instantaneous communication of prices, supplies, locations and of fers, the Steel Broadcast Network could radically change the topography of the steel industry, effectively interlinking every steel manufacturer and service provider within the global steel market with the click of a mouse. Of course, instantaneous communication is a double-edged sword. It offers unprecedented access to corners of the world market that would have otherwise been passed over by steel buyers. It offers obscure startups a chance to market their products globally, potentially landing contracts with multinational firms. And it allows for contracts, shipments, and supply-related information to accelerate to a level never-before imagined. But for precarious firms- both fragile startups and anemic veterans- the exposure to cutthroat competition from every city, town, and village could be the kiss of death. Only time will tell how these dynamics will play out: the basic rules of economics suggest that the increased competition and communication will be a net boon to the industry, but, in the near-run, it could be a rocky ride, with well known giants dying unexpected deaths, and young, tech-savvy upstarts rocketing onto the global arena. But today, with or without the upheaval of the industry, steel buyers, sellers, and service providers have access to a new vehicle of communication that will augment, and maybe one day predominate, their global marketing strategies. Founded in Spring Lake, Michigan in 2008, the Steel Broadcast Network has been growing rapidly, establishing itself as one of the premier means of steel trading for steel manufactures, steel service providers, and steel buyers.
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