| As per the World Steel Association (or WSA), US (SPY) steel consumption grew at 11.7% last year. US steel demand grew at the fastest pace among the major steel-consuming countries. However, for this year, the WSA expects US steel consumption to decline 0.4% over the previous year. Demand slowdown from the energy sector, which accounts for almost 10% of US steel consumption, is the prime reason behind the slowdown in steel demand.
The construction sector accounts for over 40% of US steel consumption. Non-residential construction spending makes up two thirds of the total construction spending. Non-residential construction spending has been on an uptrend, rising 4.5% in the first three months of the current year.........................................Full Article: Source
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