Word: steelmen
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
...rate of 950,000, v. a level of 880,000 in March, and is expected to do even better in May. ¶ Inventories declined still another $700 million in March, bringing closer the time when many industries must start reordering. As steel stocks slipped down to the 1954 level, steelmen report that 10% of all capacity-and 20% of all new orders -is on a rush basis, about as high as the industry can go. With production currently up a bit to 50%, steelmen forecast an upsurge of ten percentage points in the next eight weeks. Said Iron Age magazine...
Those who kept their eyes on heavy durable goods, especially steel and autos, found the picture still depressing. Operating at only 48.2% of capacity, steelmen revised their production figures for the year, now think 85 million tons, off 30 million tons, will be about the size of it for 1958, though they expect the worst to be over by Labor Day. Auto production last week was 33.1% less than last year, and General Motors announced wholesale shutdowns of its Fisher-body and Chevrolet assembly plants to help dealers trim their unsold stocks...
STEEL PRICE RISE, widely expected by users when steel wages go up automatically July 1, may be delayed. Pace-setting U.S. Steel reportedly has put off a decision on prices for at least another month. Steelmen are under pressure to hold line because aluminum-makers cut prices despite scheduled wage increases...
Pickup in Autos? Many steelmen believe that steel's inventory cutbacks may also be nearing an end. Production is down about 40%, twice the drop in consumption. Estimates are that total steel inventories are already down below 20 million tons, off 5,000,000 tons from the peak, and below the 21 million-ton inventory considered normal. While inventories got as low as 14 million tons during the 1954 recession, steelmen reckon that in 1958's bigger economy a bare-minimum inventory is 17 million tons. What could turn steel around-and give the entire economy a healthy...
...recession, have held up surprisingly. Though many retail prices and some wholesale items dropped, the level of the nation's basic commodities is unchanged. The reason, say businessmen, is the organized labor philosophy that good business or bad, wages-and thus prices-must go up every year. Therefore, steelmen refuse to cut prices, not only because they say it would not improve business, but also because they face an automatic 7% wage increase next July 1; Detroit refuses to lower auto prices largely because it must renegotiate auto contracts this summer, expects that it will have to grant...