Word: ingot
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Dates: during 1950-1959
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Steel. Joseph L. Block, chairman of Inland Steel, predicted that, barring a new strike, the nation's mills will pour 70 million ingot tons in the first half, 130 million during the whole year, up from 92 million in 1959 and above the alltime high of 117 million...
...steel industry's ingot output last week hit a surprising total of 78.9% of capacity, or 2,233,000 tons. This was nearly 20% better than anticipated and close to the 2,252,000-ton output in the last pre-strike week. As the glowing ingots moved from soaking pit to rolling mill and out to customers, the glow spread through the U.S. economy...
...matter how fast ingot production climbs back, best estimates are that it will be several weeks before finished steel products are moving from the mills; the cold-rolled sheet, needed by Detroit's auto industry, will not be available for another two or three weeks. U.S. Steel estimates that its shipments of finished products will be only 25% for a while, and doubts that many mills can top that figure...
...same time, the Kaisers also had their first run-in with the steel industry, when they announced plans to build their Fontana steelworks on the West Coast with an RFC loan. Despite the industry's opposition, Kaiser built the largest steel plant west of the Mississippi (in ingot tonnage), paid off the Government loan 20 years ahead of time...
...White came another record report to round out the picture: the nation's third largest steel firm ran up quarterly earnings of $2.57 a share v. 98? last year, half-year earnings of $4.28 a share v. $1.53 last year. Republic's half-year production (5.6 million ingot tons) and sales ($785 million) also broke all previous records...