As angry as a loser in a sharp horse trade, the U.S. aluminum industry last week focused its wrath on the Economic Cooperation Administration. The U.S., said the industry, was getting the short end of a very sharp deal.
EGA had allocated $26 million to Western European nations to buy aluminum. They had been using the dollars to buy Canadian ingots at 16¢ a lb. This gave the Europeans a surplus of aluminum. They shipped the metal to the U.S.where there is a shortagein the form of scrap. U.S. fabricators were paying as high as 25¢ a lb. for their...
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