Word: steelmen
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Dates: during 1950-1959
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...slump in car sales. Wholesale prices and the cost of living seem certain to edge even higher when 1,250,000 union workers collect automatic raises as a result of June-July advances in the consumer index. After raising price tags a record $8.50 a ton in June, steelmen are already talking up another boost. The -auto industry, setting its sights on a near-record 7,000,000-car year in 1957, may drive consumer credit to new peaks. An increase in defense production, which generates spending power with no corresponding increase in consumer goods, promises to put new steam...
...other foundrymen could not believe it. At the Paris Exposition of 1855 they launched an investigation, ran chemical tests, were persuaded that the bells were not cast-iron fakeries only after sledge hammers failed to crack them. Last week Bochumer Verein für Gusstahlfabrikation, A.G.,* once again amazed steelmen. Out of its mill came the largest piece of cast steel ever made-a rolling mill foundation block (housing) weighing 257 tons, 6 ft. thick, standing 35 ft. high...
With that hunk of metal, on display at the International Foundry Fair in Dusseldorf this month, German steelmen aim to impress the world with the rise of their industry. Since 1950, German steel production has increased 76%. In 1954 it surpassed the previous 1938 peak. Last year Germany nosed out Great Britain, became the world's third largest steel producer (after the U.S. and Russia...
...going to be hellzapoppin' in the steel industry all the rest of the year." So said Bethlehem Steel's Chairman Eugene G. Grace last week as the steel strike ended (see NATIONAL AFFAIRS) and he took a good look at piled-up demand. Like other steelmen, Grace reported that his company had "never been so low in working inventories of semi-finished steel," while its orders for structural steel were "greater than we've ever seen before." The unleashed steel demand was piling atop an economy already operating "at a record rate, well above the same period...
...Most steelmen also appeared unconcerned. Industry reports put current steel inventories at close to 18 million tons, although it is unevenly distributed. Steelmakers, who have worried about the effects of a big price boost to pay for a wage increase, might well feel that users would swallow the boost more easily with lower stocks on hand. Some small steel companies unaffected by the strike had already raised prices from $6 to $16 a ton; a short breathing spell would help smooth the ground for an industry-wide boost later...