The price of cold-reduced sheet is 25 % higher than that of hot-rolled wide strip.

However, when it comes to processing such hot-rolled wide strip into cold-rolled sheet or coated sheet (which accounts for 60 % of production), there are in the Community 10 joint ventures, including six production cooperatives (which means cooperatives performing no marketing function): only seven of the 12 groups referred to above are totally independent of one another.

Hot-rolled wide strip of non-alloy steel: These products may be sold without further processing (as is the case with 40 % of production) or be processed into cold-rolled sheet, which in turn may be sold further processing or coated.

For steel mills, which produce a great range of flat products of steel, hot-rolled coils are used as a pre-material for manufacturing other steel products (wide and narrow strips, all cold-rolled products, tubes, etc.).

It should also be recalled that on 22 December the Industry Ministers of the Twelve agreed to a capacity reduction objective of 7.5 million tonnes of hot- rolled wide strip, for which guarantees must be obtained no later than 10 June 1988. - 2 - Main features of the quota system The quota system decided upon by the European Commission for the first six months of 1988 therefore heralds a new opening-up of the steel market, but it is worth pointing out that for all the products, whether or not subject to quotas (hot-rolled wide strip, cold-rolled sheet, galvanized sheet, coated sheet, heavy sheet, heavy sections, wire rod, concrete reinfor ...[+++]cing bars and mercant bars), the Commission is maintaining a monitoring system whereby steel firms are required to make monthly declarations of their production and deliveries of the products in question.

Adaptations are as follows : (in 1000 tonnes) - hot rolled coils 3 537 instead of 3 390 - cold rolled sheet 2 922 instead of 2 864 - quarto plate 1 294 instead of 1 272