What is wrong with the steel industry? When the year began, almost everyone expected the industry, freshly recovered from a strike, to run for months at or near full capacity. But one of the paradoxes of the economy is that, while such big steel-users as the auto industry are running at close to a record rate, steel is undergoing its own private recession. Last week steel production was scheduled at 66.9% of capacity, the lowest nonstrike rate in 20 months—and the rate is due to drop more. U.S. Steel, biggest U.S. producer, announced that it will close down its plant in...
To continue reading:
or
Log-In
