Business: More Trouble in Steel

TIME'S Index bounced to 182.5 (estimated) in the Aug. 29 week, a new high.

Despite WPB's stepped-up scrap-collection drive (TIME, Aug. 31), steelmakers are still plagued by the scrap shortage. In August, for example, they operated at only 95% of capacity although they could have hit close to 103% if enough scrap had been available and small plants had been fully utilized. At peak output steelmakers could have made 500,000 additional ingot tons of steel last month.

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