Steel importers must offer added value: AIIS

Jun 18, 2013 | 05:07 PM | Catherine Ngai

Tags  AMM roundtable, AIIS, steel imports, American Institute for International Steel, Leon Goldenberg, John Foster, David Phelps, Steel Success Strategies conference SSS conference

NEW YORK — Steel importers must offer more risk management services to customers in order to compete with domestic suppliers, members of the board of the American Institute for International Steel (AIIS) said during an AMM-led roundtable at the Steel Success Strategies XXVIII conference in New York.

The conference is sponsored by AMM and Englewood Cliffs, N.J.,-based World Steel Dynamics Inc.

Long lead times and buyers who are wary of today’s uncertain economic environment have made selling imported steel increasingly difficult in recent years.

"There’s a fundamental metamorphosis in the way business has been done and the way business is going to be done. The days of the big traders are coming to an end. With all the mergers, acquisitions, supply-side and sales-side changes, it’s created a very different environment for traders to be in," Fremak Industries Inc. president and AIIS director Leon Goldenberg said. "There are less mills to buy from and less customers to sell to. In addition, customers no longer want to be six or 10 months out."....

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