Posco broadens its online selling of steel products

An image of Posco International’s Steel Trade website. [POSCO INTERNATIONAL]

Posco International is expanding sales of steel online.

Posco International, the international trading subsidiary of the Posco group, signed a partnership with four domestic steel retailers, including Chungnam Steel and SinSteel, to enable them to reach customers on its e-commerce platform, Steel Trade, which was launched in November.

At the beginning, most products sold on Steel Trade were steel plates. Posco International expects its offerings to expand to steel pipes, wire rods, secondary steel products and long steel products.

The online platform allows potential customers to check stock information in real time. Customers are also able to choose by price and quantity, which wasn’t possible in the past when steel wasn't commonly sold online, according to Posco International.

“The goal is to share growth with small- and mid-sized domestic steel companies by operating an e-commerce platform that expands the limits of the traditional steel retail system,” said Park Jong-in, a spokesperson for Posco International.

Posco International “plans to provide sophisticated services after analyzing consumer consumption patterns based on data to raise their convenience,” Park said.

BY JIN MIN-JI [jin.minji@joongang.co.kr]