Business: Steel Seeks More Money, Quick

But price boosts could help imports

No industry has suffered more from weak domestic markets and buzz-saw foreign competition this year than steel. Nonetheless, steel mills last week announced price increases that clustered around 5.5% to take effect early in 1978. The increases come just when the Carter Administration is putting the finishing touches on a plan to offer financial aid to the ailing industry and sharply reduce the flow of cut-price foreign steel into the U.S. But the Administration reacted to the price boosts mildly, indicating that American mills will not be battered by...

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