iSteelAsia Case Study: A Secure, Neutral Steel Trading e-Commerce Platform
I Steel Asia case
iSteelAsia is a secure, neutral steel trading e-commerce platform created by Andrew Cho Fai in december 1999 for steel industry professionals. Indeed, iSteelAsia enables users to purchase and sell steel, network with a global community of steel traders and find informations and news concerning steel industry.
1) Describe briefly the market itself and the market conditions (positive / negative trends, opportunities / threats) under which iSteelAsia developed. Identify more specifically the threats that the company faces or may face in the near future.
The market under which iSteelAsia developed is the market of the Steel in Asia. After, the crisis of 2001, the global steel market have known a development of the global supply and the prices. This growth is particularly significant in the Asian countries and the Mideast.
Asia is the main leader of the production growth, with a rise of 54% between 1992 and 2002. China is the major player of the industry with a huge expansion of 223% in the decade. The economic boom of the steel industry in China and India has caused a massive increase in the demand for steel in recent years. The global steel market is valued at US$700 billion and the Asia region account for 41% of it.
Swot Analysis
Positive trends
Negative trends
Economic situation is positive for the steel market thanks to the economic boom in the new developing countries. Indeed, strong supply of steel in Asia rises the prices
Late of the 90 's: In USA and Europe, web-based companies started to overcome steel trading inneficiencies
Development of the Asia and Hong-kong e-commerce 3 years ago later.
Internet frenzy in Asia
1999: Asian start-up adapted US internet business as model.
Contrarly to the steel market, e-commerce seems a « sexy » industry for the investors.
There are numerous challenges about developing a start-up in Asia:
The steel industry is the most conservative in the world and very slow to move to
iSteelAsia is a secure, neutral steel trading e-commerce platform created by Andrew Cho Fai in december 1999 for steel industry professionals. Indeed, iSteelAsia enables users to purchase and sell steel, network with a global community of steel traders and find informations and news concerning steel industry.
1) Describe briefly the market itself and the market conditions (positive / negative trends, opportunities / threats) under which iSteelAsia developed. Identify more specifically the threats that the company faces or may face in the near future.
The market under which iSteelAsia developed is the market of the Steel in Asia. After, the crisis of 2001, the global steel market have known a development of the global supply and the prices. This growth is particularly significant in the Asian countries and the Mideast.
Asia is the main leader of the production growth, with a rise of 54% between 1992 and 2002. China is the major player of the industry with a huge expansion of 223% in the decade. The economic boom of the steel industry in China and India has caused a massive increase in the demand for steel in recent years. The global steel market is valued at US$700 billion and the Asia region account for 41% of it.
Swot Analysis
Positive trends
Negative trends
Economic situation is positive for the steel market thanks to the economic boom in the new developing countries. Indeed, strong supply of steel in Asia rises the prices
Late of the 90 's: In USA and Europe, web-based companies started to overcome steel trading inneficiencies
Development of the Asia and Hong-kong e-commerce 3 years ago later.
Internet frenzy in Asia
1999: Asian start-up adapted US internet business as model.
Contrarly to the steel market, e-commerce seems a « sexy » industry for the investors.
There are numerous challenges about developing a start-up in Asia:
The steel industry is the most conservative in the world and very slow to move to