Steel Futures Bill eyed by Armco for high tech steel research
CINCINNATI AP Armco Inc executives back a proposed Steel Futures Bill as seed money to fund high technology steel development. The measure would provide 5 million over two years to support research at Armco’s Middletown center, aiming to advance thin strip casting and cut processing steps, energy use, and costs. Power said the process is blue sky but potentially patentable and could shape future steel making.
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Existing homes sales rise in May amid rate worries
U S existing home sales jump 5.1 percent in May to an annual rate of 3.74 million as buyers push to close before higher mortgage costs. The gain marks the strongest pace since December and the largest monthly rise since February.
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