Vanilla Steel has developed a tool to predict the future price and demand for steel

The multi-billion dollar metals trading industry operates on Excel, PDF and email. Vanilla Steel’s mission is to transform buying and selling in one of the modern world’s oldest industries with seamless and intuitive digital solutions.

Vanilla Steel, a company active in the steel market, has announced the receipt of a seven-figure grant from the Pro FIT programme of the Investitionsbank Berlin. This milestone, supported by co-financing from the European Union, aims to develop the innovative Smart Forecaster project.

Smart Forecaster project uses artificial intelligence algorithms to accurately predict future prices and demand for both primary and surplus steel. This tool will revolutionise decision-making in the steel industry by providing accurate demand forecasts and price trends for a wide range of steel types.

“Even in the traditional steel industry, innovation is possible. At Vanilla Steel, we are committed to pushing the boundaries of technology to bring advanced solutions to the market,” said Simon Zühlke, CEO of Vanilla Steel. “We are extremely grateful for the financial support from the EU, which will enable us to embark on this transformational journey”.

Vanilla Steel aggregates spot steel supply from over 500 suppliers and spot steel demand from over 3,000 buyers across Europe, facilitating efficient and transparent trading. The project represents a significant step forward in its mission to streamline and modernise the steel trading process.