Word: steelmen
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...price rise sparked a business-political uproar, Wheeling Chairman William A. Steele surprised everyone by risking the Kennedy Administration's wrath with an announcement of selected price increases averaging $6 a ton. Steele's timing seemed a deliberate test of President Kennedy's present mood, and steelmen happily hailed Wheeling's lead. Said one competitor: "God bless...
...performance a short-term one, and the industry takes certain risks if it raises prices now. There is strong evidence that last year's attempted rise would have been cut down in the free market even if the President had held his temper; stuck with a soft market, steelmen have been quietly discounting prices from 1% to 5% for much of the past year. Furthermore, steelmen take the chance of turning their customers increasingly to lower-priced imports, which rose by 1,000,000 tons last year, and to steel substitutes, which last year displaced 2,000,000 tons...
...risks involved for steel are the kinds of risks that every businessman must consider in his pricing policy. And steelmen clearly feel that they want to run those risks without Government interference...
Immediate Need. To an industry that has been stagnating in its own recession for at least two years, all this should have been cause for noisy celebration. But steelmen have had to pay the piper for premature celebrations before, and caution hung over the steel centers like smog. No one could be quite sure how much of the fresh demand was business hedging against the possibility of a strike when labor contracts reopen after April 30. Government steel analysts feel that this fall steel should be able to avoid another tumble like last year's, and hope...
...howl went up in West Germany, Russia's No. 1 oil-pipe supplier (633,000 tons from 1959 through last October). Just three and a half months ago, three giant Ruhr firms-Mannesmann, Phoenix-Rheinrohr AG, and Hoesch-signed a contract for another 200,000 tons. Ruhr steelmen denounced Chancellor Konrad Adenauer as a NATO stooge for trying to enforce the new rules. Taken aback, Adenauer's Cabinet last week agreed to reconsider, turned the problem over to a special subcommittee for special study...