The US housing sector, long the epitome of the global economic malaise, is slowly turning a corner. This year, the US construction sector will add to metals demand for the first time in six years. A conservative private sector and slow employment growth has meant the US housing market has taken longer to rebalance from the excesses of earlier in the decade. Chronic overbuilding relative to migration and natural population growth effectively brought forward years of US construction sector demand with catastrophic results.
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