STATE OF BUSINESS: Boost for Steel

As expected, U.S. Steel and the other major producers last week announced an increase in the price of steel. There was no across-the-board boost. Instead, the increase was in "extras," i.e., charges tacked on base prices for special processing of such products as carbon steel bars and rails. The rise in extras, steel users estimated, ran up to $6 a ton.

The public did not notice the increase. But fabricators, who are well aware of the steel industry's good earnings (see below). did. (So did the steelworkers. whose demands for another wage increase were called unjustifiable last week by Big...

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