Business: Stability in Steel

The recent optimism so frequently expressed concerning the steel industry is relatively, if not absolutely, borne out by current figures of production and prices. Declines in production during October amounted to only 1% in ingot output, and to only 2½% in pig-iron production. Actual tonnage during October was slightly greater than during the preceding September, but this was due to the greater number of working days in the former month. Prices in the eastern section have remained steady at previously established low levels, while slight declines have occurred in the western and southern...

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