The cumulative effect of the longest nationwide steel strike in history (see NATIONAL AFFAIRS) cut deep into U.S. industry. With stockpiles reduced sharply, dozens of industries are slowing down and beginning to lay off. Auto, appliance, farm-equipment, machinery makers are all tightening their belts, and they face still more trouble before the economy is rolling at full speed again. The mills will need four to six weeks to get back to 90% of capacity, at least three months to fill the empty pipelines.
Detroit's automakers, who consume 15% to 20% of the nation's steel, are worst off, face heavy layoffs in the...
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