ABSTRACT
In 1973 British Rail earned £36 million, at 1972 purchasing power, from carrying iron and steel products and the raw materials which the industry uses. The steel industry does not use blast furnaces to produce all the iron which it needs because it uses scrap instead. There is a gap of over 6 million ingot tons between the amount of steel that the Corporation is likely to be able to produce and the 23½ million tons which it seems likely that it will be able to sell at a profit. Turning to the products of the iron and steel industry, the railways carried nearly 12½ million tons of iron castings, and finished and semi-finished steel, during 1973. If during 1981 British Rail carries 30 million tons of iron and steel at a rate of £0·95 per ton, it will earn £28½ million. In 1964 revenue from iron and steel had been £61½ million and in 1970 £45½ million.
