EEC Steel Production Will Steady In First Quarter Of 1989
BRUSSELS, Belgium (AP) _ The EEC Commission predicted Friday that crude steel production in the 12- nation trade bloc would hold steady at about 34 million metric tons in the first quarter of 1989.
The prediction matched production estimates for this year’s fourth quarter and first quarter.
The commission also said total production for 1988 should amount to 135 million tons, up 8 percent from 1987.
It said demand should remain firm at least through the first quarter of 1989 and possibly through the first half, despite concern over a build-up of stocks in some sectors and diminishing demand from French and West German automobile industries.
Export and import prices were rising, while export demand remained high, the commission said.
Consumption in the European Economic Community was expected to remain roughly steady at 29.6 million tons in the first quarter of 1989. That compares with an estimated 29.8 million tons in the fourth quarter of 1988 and 28.24 million tons in the first quarter of 1988.