Word: armco
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...earlier one did not. Last summer the mills scheduled a 4.5% rise on flat-rolled, effective Oct. 1. But demand then was weak. Some steelmakers apparently told favored customers they could continue to buy steel at the old prices; Armco then delayed its rise, U.S. Steel canceled the boost and the rest of the industry fell into line...
...still operating at only 72% of capacity, Wheeling-Pittsburgh Steel, one of the companies announcing an increase, claimed that flat-rolled products are selling especially well. National Steel, which led the increase, added that the boost would "only partially" recoup rising costs for materials, labor and freight. Significantly, Armco, the company that torpedoed the October rise, joined this...
...weeks ago that on Oct. 1 it would raise the price of sheet steel, which is used in a wide variety of consumer goods from autos to washing machines, by an average of $10 to $15 a ton. U.S. Steel's competitors quickly followed its lead. But then Armco Steel Corp., in an extraordinary move for the clubby steel business, broke the united front and said it was deferring its planned increases until Jan. 2. Last week U.S. Steel reluctantly canceled its boost, and the rest of the industry fell into line...
...Armco cited "a lack of support for the Oct. 1 effective date by some competitors." As translated by industry sources, this meant that Chairman William Verity Jr. had become irritated when he learned that some steelmakers were making deals to ship flat-rolled steel to selected customers at the old prices after Oct. 1. Verity's move immediately put pressure on competitors to scrap plans for an increase and thus keep pricing policy out in the open...
...appeals court found that Reserve's discharges constituted a threat to the health of nearby communities; it held that the plant could be ordered closed if the state and the company did not agree on an acceptable alternative. Reserve, which is jointly owned by Republic Steel and Armco Steel, said that it could develop a dumping site at a location three miles from Silver Bay. But the state's Pollution Control Agency argued that this site, which involved the construction of a dam, also posed risks to Silver Bay. It rejected the site and recommended a location...