Word: scrapped
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Since steel's basic raw material is normally about half pig iron, half scrap, 6,500,000 tons of pig would scarcely be enough to turn out 15,000,000 tons of steel even in normal times. And scrap is now abnormally scarce. Last week OPM steelmen particularly recommended expansion of Bessemer steel capacity, because the otherwise less economical Bessemer process requires very little scrap. Transportation Commissioner Ralph Budd announced a program to collect 232,000 tons of abandoned streetcar rails. But Cleveland's Daily Metal Trades reported that steel mills are still using more scrap than they...
There could be only one certain conclusion: great numbers of men on both sides had had the scrap shot out of them; and great masses of materiel had been shot into scrap...
There is plenty of scrap in the U.S.-abandoned automobiles rusting in wrecker graveyards, broken plows rusting in farmers' barns, old bedsprings and buckets lying on dumps at the edge of every small town. The problem is how to sort the scrap, compress it for shipping, move it to market...
...suggestion is to take off Leon Henderson's price ceilings ($20 a ton for No. 1 heavy melting scrap at Pittsburgh), let prices rise to a level where every U.S. junkman would lengthen his route and hours. But this suggestion comes mostly from scrap dealers, finds little support from steelmen such as Eugene Grace...
Already Henderson's price ceiling is honored as much in breach as in observance. By simply "grading up" low-quality scrap, sales are made above the ceiling; the magazine Steel reported last week that only about 60% of scrap was actually sold at OPACS prices. Last week Henderson decided that "monopoly" practices were boosting prices and cutting off the flow of scrap, asked the Justice Department to make an investigation. His charges: about 15 big brokers supply 90% of scrap bought by steel mills...