U.S. steel shipments rise

February 12, 1994|By Bloomberg Business News

WASHINGTON -- Domestic shipments by U.S. steelmakers in 1993 rose 7.5 percent, to their highest level in 12 years, as the economic recovery triggered a surge in orders from automakers and construction companies, an industry group reported yesterday.

Shipments rose to 88.4 million net tons from 82.2 million net tons, the American Iron and Steel Institute said.

December shipments rose 12.3 percent, to 7.38 million net tons, from 6.57 million net tons in the same month of 1992, AISI said.

The Washington-based trade association said shipments to the automotive industry rose 14.1 percent for the year. Shipments to construction companies jumped 10.6 percent.

Most analysts predicted a strong year in 1994 for major steelmakers such as USX-U.S. Steel Group and Bethlehem Steel Corp. as the U.S. economic recovery continues.

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