Word: ingot
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Dates: during 1960-1969
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...unfilled orders was developing. One reason seemed to be that producers were delivering promptly because they still had plenty of unused plant. Excess capacity and intense competition served also as an inflationary brake, as was demonstrated last week when Aluminum Co. of America felt obliged to cut its basic ingot prices from 26? to 24? per Ib. With so much overcapacity, manufacturers as yet felt no compulsion to expand vigorously, consequently were borrowing at a slower rate than bankers had hoped they would...
...pessimists. Inland Steel Chairman Joseph Block expects steel production to pick up by late summer, average out to more than 70% of capacity for the year. Says he: "1960 will be one of the industry's best production years, with a bare possibility of topping the 1955 record ingot output of 117 million tons." Retail sales are still above last year (see chart), and Sears Roebuck Chairman Charles Kellstadt expects his company's 1960 sales to increase 5% over 1959 sales of about $4 billion. The auto industry has a million-car inventory on its hands, only...