Word: steel
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Dates: during 1960-1969
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Even so, steelmen moved with notable caution. After three days of silence on both sides, Lukens Steel Co., the 20th-ranking producer, upped its price on a few types of steel. All remained quiet on the New Frontier. Then third-ranking Republic got up its nerve and announced increases similar to Wheeling's, but not identical. Again, all quiet. The following day, after two more companies joined the wary parade, giant U.S. Steel finally raised prices. Its increases were noticeably gentler than Wheeling's: $4 on hot-rolled sheet and strip (50? less than the other companies...
...stockholders who trooped into a Bronx armory for the annual meeting of A. T. & T. seemed to share the optimism of Chairman Frederick R. Kappel, who made happy talk about a general improvement in business confidence. Businessmen were heartened by President Kennedy's mild reaction to the steel price hikes, and even more buoyed by the record level of corporate profits...
...Brazil, to which sizable numbers of Japanese farmers have been emigrating since 1908, notably to Sao Paulo. The Japanese in Brazil control 67 firms ranging into insurance, banking, cement, glass and machinery. The Japanese-run Ishikawajima shipyard is working on its seventh vessel, and the new Usiminas steel plant, backed by a consortium of 14 Japanese companies, will pour 500,000 tons of pig iron this year. In Peru the Japanese have become leaders in the booming fish-meal industry, are also building a railroad in the backlands. In Honduras, Japan's Oki Electric Co. underbid such Western giants...
...dirtiest word in the world's coldly competitive steel business is "dumping"-the calculated practice of selling for less abroad than at home. While raising their own domestic prices last week, U.S. steelmakers grumbled bitterly that cut-price European and Japanese competitors are dumping steel on the U.S. market. In a thumb-in-the-eye brawl that is becoming global, the Europeans also accuse the Japanese of dumping steel in the Common Market. The Europeans have quietly made a cartel-like agreement to set prices of exports and carve up world markets-but so have the Japanese. Last week...
...dumping wire rods in the U.S., turned the case over to the Tariff Com mission for a final ruling next month. Because the Tariff Commission can boost duties retroactively, many American importers have slashed their buying just to be on the safe side. One result: imports of some German steel products are running 75% below normal rates...