Formed in London in 1969 by UK-based steel trading companies, today ISTA’s membership of some 90 companies comes predominantly from across the UK and Europe.

Supporting the trade, associate members represent almost all areas in the transactional life of a steel trading deal and include shipping companies, marine and credit insurers and law firms.

Over the years, ISTA has developed a dialogue with the European Commission and with the UK government’s trade department and participates in the latter’s consultations. When necessary, ISTA makes representations to the authorities on behalf of members. The work of the UK Trade Remedies Authority relating to anti-dumping and steel safeguard measures is of particular interest.

Amongst ISTA’s other activities are training sessions on trade practices and procedures and visits to steel producers. The Association’s President’s Awards give recognition to capable, generally young, steel traders and those providing trade support. ISTA’s Merit Awards aimed, typically, at respected, long-standing, employees of member companies. In 2023 ISTA is collaborating with the London Metal Exchange on a new Derivatives Award.

In 2023 ISTA is working with ISSB to make available to members steel import statistics.

ISTA has an active social, or networking, programme and holds receptions in London and the Midlands. Our Annual Lunch at The Brewery in London in early December is the largest such event in Europe. Some 550 members and guests attended the 2022 lunch.

Circulars containing information on ISTA activities and minutes of meetings are regularly distributed among our members.

What are the challenges ISTA members face?

The British economy operates under the shadow of Covid and the consequences of Brexit following the end of the ‘transition period’ on 31st December 2020.

In addition, from mid-February 2022, trade has to take account of new sanctions and a hike in the cost of energy arising from the Russian invasion of Ukraine. There are also the ongoing trade challenges relating to such areas as contractual disputes, increased international protectionism and government policies, both at home and abroad. 

One of ISTA’s early achievements was the preparation of harmonised Contract Conditions of Sale, incorporating terms relating specifically to the steel trade, taking account of traders’ past experiences. Many companies use that basic format today. Today, members have to come to terms with European Commission and UK anti-dumping measures and safeguard measures incorporating 25% tariffs when import quotas are exceeded.

Download our ISTA Handbook 2023 here