Lacklustre demand for US long products has kept prices under downward pressure, but the pace at which prices are declining has slowed. In part, an uptick in scrap prices has helped provide some price support, and import levels are lower than earlier in the year (see chart). Construction demand, while solid according to most market participants, varied sector-by-sector during the first half of 2019. Single and multi-family home construction has declined by an average of 4.7 y/y, while non-residential construction has grown by an average of 5.8.
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