As steel mills paced the business boom by operating at record levels, the industry's leaders met last week in Manhattan to discuss the outlook for the rest of the year. Things looked good indeed. In May the alltime monthly steel production record of 10,168,000 tons, set in March 1953, was topped. No one expected that the industry as a whole could maintain the current operating rate of an estimated 96.3% of capacity. Some time this summer, operations are expected to dip, possibly as low as 80% to 85% of capacity, then climb back in the fall.
But at least one steelman...
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