Will imports crimp new steel prices?

The article reveals that Bethlehem Steel Corp.'s plans to raise its prices on carbon steel plates and other structural steel shapes on March 1, 1971 could lead to an increased importation of steel by domestic mills. U.S. President Richard Nixon ordered a review of the price increase and reminded the industry about the import-restraint program adopted by foreign companies. It adds that the steel company is raising its prices in preparation for negotiations with steelworkers and to cover new costs in meeting stockpiling needs.