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Steel Prices Continue To Fall.

During 1998 the price of steel in Israel fell by 70 percent. Companies that make up Israel's steel industry including United Steel Mills (a Koor subsidiary) and Yehuda steel Ltd. (a Discount Investment subsidiary), two of the largest companies in the sector have announced losses for the financial 1998 year. Every steel company in Israel is losing money in steel production and finding it increasingly difficult to compete in the local market against foreign steel imports. Many foreign steel manufacturers are sending steel imports into the Israel market at consistently lower prices.

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