Business: The End of Capacity

The continued slide in steel production —down to 48.7% of capacity from 49% the previous week—last week brought an overdue change in the way the industry will announce its output. The steelmakers, who have been worried that the rate of capacity figure is not only discouraging these days but does not give an accurate picture of the industry (TIME, Nov. 14), decided to drop it. Many steelmen feel that the capacity comparison has made steel production look worse than it actually is, since the most profitable rate of production is around 80% of capacity instead of 100%. Much of the equipment...