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Building the Next Big Thing

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Building the Next Big Thing Building the next big thing. Whether your customer is building the car of the future in the North West or the next skyscraper on London’s skyline, our strategically placed terminals can provide a one-stop-shop solution to build a resilient supply chain, able to supply the whole of the UK. For more information, please visit: www.peelports.com/metals WHAT IS ISTA? WHAT IS ISTA, THE INTERNATIONAL STEEL TRADE ASSOCIATION? ISTA was formed in London in 1969 by some 20 UK-based steel trading companies. Whilst being competitors, those companies realised that they had certain commercial challenges in common, which could be better faced as a body, rather than as individuals. This was in no way a cartel, quite the reverse, as traders jealously guarded their customer and supply sources then, as much as they do now. Today, ISTA has a membership in the region of 75 companies from UK, Europe and across the world. In 2016 we established a branch in Singapore. ISTA uniquely represents the international steel trading community and its requirements and views. WHO ARE ISTA’S MEMBERS? ISTA membership has grown and broadened over the years, and today in addition to steel traders embraces companies in the derivatives sector as well as steel stockholders/distributors, the trading arm of steel producers, ports, shipping companies, marine and credit insurers, law firms and financial institutions. In fact, just about every area in the transactional life of any trading deal. WHAT ARE THE CHALLENGES FACING ISTA MEMBERS? The common challenges relate to such areas as contractual disputes, trading restrictions, government policies, both at home and abroad. One of ISTA’s early achievements was the preparation of a harmonised Contract Conditions of Sale, incorporating terms relating specifically to the steel trade, and often using the past experiences of the traders concerned. Many companies use that basic format today. Today, members find themselves operating in an increasingly protectionist world where they have to come to terms with anti-dumping measures introduced by the European Commission and other governmental bodies. Such action restricts the freedom of choice of supply available to members’ customers and end-users. WHAT DOES ISTA DO? Over the years, ISTA has developed a dialogue with the British government’s trade department and with the European Commission and represents members’ concerns to them. In particular, ISTA has recently represented members and taken an interest in European Commission anti-dumping investigations into rebar, galvanised flat-rolled products, heavy plate and hot rolled coil. ISTA has developed a relationship – a Global Steel Supply Chain Partnership – with Eurometal and the American Institute for International Steel. In recent years the Association has participated in the work of organisations which determine steel specifications and working practices. Our activities now include training workshops, field trips to steel producers and consumers and, through our President’s Award, giving recognition to capable, generally young, traders and those providing trade support services. From time to time, we also circulate to members relevant market updates and information on related legal aspects. ISTA’S SOCIAL ACTIVITY One of the highlights of the steel year is the ISTA Annual Lunch held on the first Friday in December at The Brewery in the City of London. It regularly attracts an attendance in excess of 550, making it the largest such steel trade function in Europe. In addition, ISTA holds receptions in London and elsewhere in the UK and in Singapore during SGX Iron Ore Week. CORE FUNCTION – FREE TRADE ISTA’s core function is still to promote and if necessary defend the principle of free trade, which is so central to our members’ businesses, and indeed to that of the steel consumer and the steel producer. With their knowledge of steel and expertise in trading, members complement mills by providing users with a choice of supply ensuring that their specific requirements are met in a timely manner and at a competitive price. 1 CONTENTS ISTA Handbook 2017 Chairwoman - Simone Jordan What is ISTA? . 1 Honorary Officers and Executive Committee 2017 . 3 ISTA Diary 2017 . 4 ISTA Chairwoman’s Report 2017 . 5 - 9 ISTA Singapore Chairman’s Report 2017 . 10 - 11 ISTA Singapore Members . 11 ISTA Officers 2017 & ISTA Lunch 2016 Entertainer . 13 Visit to British Steel, Scunthorpe . 14 President’s Award Winners . 15 Import & Export Trading Activity & Contact Details . 16 - 19 Associate Members Activities . 20 Directory of Members . 23 - 27 Directory of Associate Members . 27 - 30 Past Honorary Officers . 31 ISTA Hosts CITHA Annual Convention 2017 . 32 2 HONORARY OFFICERS AND EXECUTIVE COMMITTEE 2017 Elected at the AGM on 2nd February 2017 PRESIDENT: Tony Singer CHAIRWOMAN: Simone Jordan Ronly Ltd DEPUTY CHAIRMAN: Brian Paterson Duferco UK Ltd TREASURER: Alan Fowle Fowle & Co Ltd CHAIRMAN EMERITUS: Jeff Kabel Jeffrey M. Kabel EXECUTIVE COMMITTEE: Michael Swangard Clyde & Co LLP Tony Feek DNT Company Ltd Michael Bienz Gerald UK Ltd Godfrey Watt Kromat Trading Ltd Gianpiero Repole* Liberty Commodities Ltd Ralf Reintjes Primex Steel Trading GmbH Phillip Guest Servosteel Julian Verden Stemcor Clive Davies W E Dowds (Shipping) Ltd *Toby Gladstone serves as alternate to Mr Repole ACCOUNTANTS: Oculus Accountancy DIRECTOR: Hugh Bailey ADDRESS: The International Steel Trade Association 83 Victoria Street London SW1H 0HW TELEPHONE: +44 (0)20 7799 2662 E-MAIL: [email protected] WEBSITE: www.steeltrade.co.uk 3 ISTA DIARY 2017 ISTA arranged, participated in or attended the following events. Further information appears in this ISTA handbook. January 17th BSI Meeting, London 31st Ironmongers’ Company City Dinner February 2nd AGM and Executive Committee meeting March 16/17th ISTA Import Procedures Training Course (including INCOTERMS, customs entry, payment terms) 23rd Midlands Social Evening at the Pitcher & Piano, Brindley Place, Birmingham 29th BIRFA – British Independent Reinforcement Fabricators Association – meeting April 24th Singapore Iron Ore Week – ISTA Reception at Clyde & Co’s offices 27/28th Singapore – Iron Ore Forum May 8th Executive Committee meeting 10/12th Eurometal summit, Dusseldorf 23rd NASS Credit Insurance seminar 23rd BSI meeting, London June 19th Platts 13th Steel Markets Europe seminar, Barcelona 28th Meeting with the Dept. for Business Energy & Industrial Strategy 29th BSI Meeting, Scunthorpe July 6th ISTA visit to British Steel, Scunthorpe 12th BIRFA – British Independent Reinforcement Fabricators Association – meeting August 15th BIRFA – British Independent Reinforcement Fabricators Association – meeting September 19th CARES Policy Advisory Committee meeting 19th BSI Meeting, London 28th Executive Committee meeting 28th ISTA Cocktail Reception at the RAC Club, Pall Mall, London 28th – 30th ISTA hosted the annual convention of CITHA – the Confederation of International Trading Houses Association October 10th – 11th Eurometal’s International Steel Trade Day, Ghent 12th NASS Annual Dinner 31st London Metal Exchange Annual Dinner November 15th Executive Committee meeting December 1st ISTA Annual Lunch 4 ISTA CHAIRWOMAN’S REPORT 2017 COMMITTEE MEETINGS Executive Committee meetings were held at the RAC Club, London, in February, May, September and November 2017. LIAISON WITH BRITISH GOVERNMENT During the year ISTA maintained a dialogue with BEIS – the Department for Business, Energy & Industrial Strategy. Meetings were held on 21st March and 28th June. ISTA made known its views on the EU’s trade defence anti-dumping measures and concerns regarding Brexit. BEIS’s Fergus Harradence spoke on Brexit at the CITHA meeting hosted by ISTA on 29th September 2017. Brexit Amongst points discussed with BEIS were: - concern at the prospect of importers being required to pay 20% VAT up front on all imports; - possibility of no agreement with the EU which would result in the application of World Trade Organisation rules; it would also result in a 10% tariff on imports of cars; At ISTA’s Executive Committee meeting on 15th November 2017 reference was made to a press report (The Times, 9/11/17) regarding a planned trade remedies authority ‘to investigate claims about imports unfairly priced below what they cost to produce’. The article stated that according to an official UK will not toughen its trade defence measures even if the EU 27 do. The article concluded “A final decision will be taken on trade defence policies by the government after a consultation period”. ISTA has advised BEIS that it is interested in participating in this consultation, which will be held under the auspices of the Department for International Trade. EUROPEAN COMMISSION ANTI-DUMPING MEASURES Chart prepared by ISTA Chairwoman and appearing on ISTA’s website ISTA continues to take an active interest in European Commission anti-dumping activity involving steel. 5 AD635: Hot Rolled flats from Brazil, Iran, Russia, Serbia, Ukraine Introduction of Minimum Import Prices - Under investigation from 7 July 2016; definitive AD duties were imposed on 6th October 2017 on all except Serbia (the anti dumping proceeding against Serbia was terminated). Definitive duty rates on a Euro per tonne net per Country per Producer have been imposed. The Commission’s provisional decision had been “to impose ad valorem duties capped by a Minimum Import Price (MIP) which takes into account the rise in raw material prices after the investigation period” but this was replaced by the definitive duties as
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