Steel: Rising Profits & Prices

Booming auto sales have made bright times for steelmakers. So have brisk orders for steel to be used in freight cars, appliances and construction (given a lift by the prolonged balmy weather). With production rising for most of the past two months, steelmakers last week predicted that they would produce 108 million tons this year—up 10 million tons from 1962. Prices and profits are also on the rise. This promises to be by far the best year for the nation's basic industry since 1957.

The Big Payoff. Third-quarter earnings range from strong to sensational. Compared with last year's third quarter,...

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