There are several positive signs for seamless mechanical tubing. Oil field activity is improving, as you can see by the chart below, and along with it is coupling stock and tubing for oilfield equipment. In addition, durable goods manufacturing is running strong and demand for seamless mechanical used for machine parts etc., is also growing. Finally, motor vehicles and parts production has been higher each of the last two months. Based on the fact that manufacturing construction spending is one of the stronger non-residential spend categories recently and oil and gas prices remain high, we expect demand for seamless mechanical to continue to grow throughout this year.
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