|
Term
|
Definition
|
| Taconite |
What. Natural mineral containing less than 30% iron. It is the primary ore used in blast furnaces.
Why. Domestic supplies of iron-rich ores (greater than 50% iron) were largely depleted in the 1940s, so integrated steel companies now process the lower-grade taconite to make it useful. |
| Take a Position |
To buy more material than sold in anticipation of a higher market is to take a "long" position. To sell more material than purchased in anticipation of a stable or falling market is to take a "short" position. |
| Take Out of Market |
See "Put Out of Market."
|
| Tank Car |
A railroad car designed to carry liquids or gases; often insulated and frequently having a residue of obnoxious material remaining therein. |
| Tare Weight |
The weight of a conveyance, not including the material being transported (see "Stencil Weight" - "Marked Tare" - "Actual Tare"). |
| Tariff |
An official list of freight rates published by various rate making authorities. |
| Team Track |
A name given to a public loading terminal. Many years ago wagons pulled by teams of horses would be driven to a team track where scrap would be reloaded into railroad cars. Today, only a few towns still have team tracks, available for those industries that do not have their own sidings. |
| Teeming |
Pouring; ingot molds are filled (teemed) by iron-bearing ladles. |
| Telex |
A facility utilized by the Western Union Company to transmit messages, and the message itself when using the facility. |
| Terms |
Method of payment - part of a contractual arrangement which should be discussed with customers initially and as frequently thereafter as conditions warrant. Care should be taken that the terms on contracts are compatible with the type of transaction and circumstances related thereto. Terms for truck shipments may not be the same as for cars, etc. |
