American Institute for International Steel, Inc., Eurometal — Steel Trade Study Group and the International Steel Trade Association Agree to Establish a Global Steel Supply Chain Partnership
05/26/2015 - The purpose of their agreement is to establish a Global Steel Supply Chain Partnership as a framework for collaboration among the three associations.
World economies are becoming increasingly interconnected and interdependent. The efficiency and effectiveness of the global steel supply chain are more vitally important than ever, especially in light of the changing demand situation, developments in emerging markets, the potential for border delays, unwarranted trade restrictions, and transportation and logistics costs and related issues.
Recent analytic work by the Organization for Economic Cooperation and Development (OECD) finds that generally, between 30 percent and 60 percent of G 20 country exports are comprised of imported inputs, or are used as inputs by others.
Supplying key economic sectors with adequate amounts of high-quality steel requires a vibrant international steel trade.
Approximately 400 million tons of steel consumed in the world in 2013, representing about 30 percent of global steel supply, have crossed a national border.
According to the OECD, restricting access to foreign steel adversely affects the productivity and competitiveness of domestic firms.
The OECD further determined that in the case of intermediate inputs, “…trade restrictive policies are more likely to produce firm closures and job losses—the very outcomes they were designed to prevent.”
For these and related reasons, the three associations share a strong interest in creating a new worldwide partnership of like-minded organizations aimed at advancing free and responsible global trade in steel through efficient and effective global steel supply chains.
For more information on the new partnership, visit http://www.aiis.org/2015/05/aiis-ista-eurometal-agree-to-establish-a-global-steel-supply-chain-partnership/.
Recent analytic work by the Organization for Economic Cooperation and Development (OECD) finds that generally, between 30 percent and 60 percent of G 20 country exports are comprised of imported inputs, or are used as inputs by others.
Supplying key economic sectors with adequate amounts of high-quality steel requires a vibrant international steel trade.
Approximately 400 million tons of steel consumed in the world in 2013, representing about 30 percent of global steel supply, have crossed a national border.
According to the OECD, restricting access to foreign steel adversely affects the productivity and competitiveness of domestic firms.
The OECD further determined that in the case of intermediate inputs, “…trade restrictive policies are more likely to produce firm closures and job losses—the very outcomes they were designed to prevent.”
For these and related reasons, the three associations share a strong interest in creating a new worldwide partnership of like-minded organizations aimed at advancing free and responsible global trade in steel through efficient and effective global steel supply chains.
For more information on the new partnership, visit http://www.aiis.org/2015/05/aiis-ista-eurometal-agree-to-establish-a-global-steel-supply-chain-partnership/.
