U.S. Business: Steel: Hardening

Despite soft prices and profits, the long-distressed steel industry shows signs of firming. Production has increased steadily since the week of July 4, approached 1,600,000 tons last week. In only three weeks' time, production as a percentage of estimated capacity advanced from 45% to last week's 52%. Looking at their rising orders, steelmen predict still further increases.

With consumption of finished steel also increasing in recent months, the heavy inventories accumulated last winter as a steel-strike hedge are being rapidly whittled away. Detroit automakers, confident of a good year for the 1963 models,...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!