CAP y el desarrollo de las industrias del hierro y acero en Chile: 1946-1980

This paper provides the first comprehensive account of the development of the steel and iron industries in Chile during the 1940s-1970s, by focussing on CAP, which was created as a mixed company in 1946. Our main sources of information are the Annual and Financial Reports of the company. We show that CAP quickly became hegemonic in both industries, which was unusual within Latin America. The economic performance of CAP was impressive, while per capita steel consumption trebled in three decades. CAP resorted to resources long available but until then unexploited, overcoming previous failed attempts to launch the industry. This was down to strong state support, but also due to extensive cooperation with the private sector. The 1970s proved too turbulent for the company, due to political instability during the socialist Allende’s short term in office (1970-3), and the international crisis that hit the iron and steel industries after 1973.