Steel traders improve services as mart recovers

Jun 19, 2013 | 01:03 PM | Frank Haflich

Tags  AIIS, American Institute for International Steel, John Foster, Kurt Orban Partners, Partners in Steel, Leon Goldenberg, Fremak Industries, David Phelps OCTG

NEW YORK — Steel traders are adding services to cope with a still-recovering U.S. steel market in which the traditional back-to-back import business model doesn’t always work, members of the American Institute for International Steel (AIIS) said at an AMM-led roundtable at the Steel Success Strategies XXVIII conference in New York.

"The trading industry has had to reinvent itself," said AIIS chairman John Foster, who is president of Burlingame, Calif.-based Kurt Orban Partners LLC and Houston-based consultancy Partners in Steel International LLC. "Trade services" such as financing assistance, logistics and risk management are playing a larger role in traders’ business, he noted.....

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