Business & Finance: Steel Outlook

The steel market has proved quiet with prices steady. Production has decreased steadily since Nov. 1, and is now between 5 and 10% under the tonnage rate as of that date. Buyers are inclined to reduce their stocks before the year-end inventories, particularly since their current orders can be promptly and readily filled.

Recently, steel men showed some elation, or at least were reported to have done so, when the flurry of buying was taking place. This is now practically over, and in retrospect appears a trifle manipulative. It has contributed somewhat to firmer...

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