Carpenter Technology Corp. (CRS) said it has finalized the completion of a formal cooperation deal with United States Steel Corp. (X), situated in Pittsburgh, Pa., allowing for the development of a new "lightweighting" steel for automotive applications.
Carpenter's patented alloy, TEMPER TOUGH specialized steel alloy, is designed for use in flat-roll automotive applications, as well as other demanding applications. Originally designed for the aerospace industry, the new alloy may help automotive manufacturers meet recently mandated Corporate Average Fuel Requirement standards by lightweighting vehicles through mass reduction, according to the company. Further, TEMPER TOUGH specialized steel alloy offers extraordinarily high-strength and ductility attributes that support ever-increasing safety requirements to be designed into critical automotive support end-uses.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.