Key Takeaways

• A construction index just posted its strongest monthly jump in months and a one-third gain over the prior year, but the segment carrying that growth is not the one most mills are positioned to serve.
• The single trade-policy mechanism doing the most to keep domestic prices climbing is not on most buyers’ radar this week, and it explains why mills can advance prices in conditions that would normally invite import competition.
• Two forces are pushing the same direction on steel pricing for the first time this quarter, but the question that decides every Q3 procurement call is how long the demand side can carry the weight.

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