Report on Steel Price Increases

by Richard Rosenberg on June 11, 1976
by Richard Rosenberg and Christopher J. Roberts

During the last two weeks of April and the first week of June, the
major steel producers in the U.S. announced price increases in the six
to nine percent range for a variety of finished products including flat
rolled, rail, bar, structural shapes, plate, and pipe and tubing products. Some of these increases are already effective; some are scheduled to take effect on Monday, June 14; others will be effective on July 16. Because steel is one of the most widely used basic industrial materials, affecting costs, prices, production, and employment in many industries, the Council has monitored this industry carefully over the past year and a half and issued a report on steel prices in September 1975. The President asked the Council to analyze the announced price increases, and this report is an attempt to examine the underlying factors responsible for these increases…

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