With reference to our chart below,we’ve commented in earlier Reports that thedisassociation of structural tubing shipmentsfrom commercial construction spending was apositive sign that efforts to increase theusage of structural tubing continued to besuccessful. Since mid-2015 we’ve seenshipments flatten and then decline as weapproached year end. While this is a typicaltrend, particularly in an environment of fallingsteel prices, higher November imports wereencouraging as it appeared to us that somerestocking was taking place which wouldbegin to realign the gap between shipmentsand spending.
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