Business: Expanding Steel

For the first time in history, U.S. steel production topped 2,000,000 tons last week. Soon it would go even higher. Bethlehem Steel Corp. announced that its annual capacity will be increased by 2,600,000 tons, or 16%, by the end of 1952, at a cost of $300 million. So many other companies are expanding that even steelmen have underestimated future capacity. Only three weeks ago they put it at 115 million tons by 1952. Last week the American Iron & Steel Institute announced that, by then, total U.S. steel capacity will be 117.5 million tons a year, 12% more than...

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