Crude steel production among members of the...

Crude steel production among members of the Organization for Economic Cooperation and Development is expected to fall by at least 2% this year after a 2.5% rise last year, the OECD forecast. The organization’s steel committee, which monitors steel industry trends, based projection on the likelihood that demand for steel will decline by 2% after last year’s unexpected strengthening in most of the non-communist industrialized world. Steel consumption rose by between 2% and 3.5% last year from the 1986 level of 348.3 million tons, the OECD reported.