AIIS Issues Challenge to Domestic Steel Partners

The American steel traders attribute the unprecedented growth to strengthened relationships with the U.S. steel industry and have issued a challenge to their domestic steel partners to dedicate 10 percent of their business to export shipments in 2009 and beyond.

More than 100,000 American steel and related jobs were supported by the surge in steel exports last year, the press release says. AIIS leaders say that if domestic mills will follow their customers, keep up the increased pace of exporting, partner with American steel traders and in fact commit to the 10 percent export goal, together they can help stimulate the U.S. economy, increase productivity and maintain jobs.

“Everyone benefits,” says John Foster, COO, Coutinho & Ferrostaal Inc., one of the largest steel trading companies in the world. “Steel producers in the U.S. obviously benefit by making a sale they would otherwise not have made. Our customers in the destination country benefit from high-quality U.S.-made steel delivered on a timely basis and the U.S. steel producer again benefits from having some of its production taken out of the domestic supply.”

Since 2002, exports of steel mill products have more than doubled, according to AIIS. Total exports of steel mill products to non-NAFTA destinations have more than tripled, to over 3 million tons. “

We ended 2008 strong but with the financial turmoil gripping much of the world right now, projections for 2009 are uncertain at best,” Foster says. “But the American steel trading companies are optimistic and are prepared to promote growth through exports and help increase the global competitiveness of the domestic steel industry.”

More information is available at www.aiis.org.