Make no mistake about it, steel demand is booming in the US with only some pockets of weakness evident in commercial construction and automotive from the chip shortage. What was once viewed as a more transitory supply-driven cycle has now transitioned to a more durable demand-led cycle, which is very broad based in terms of drivers, with renewable energy an underappreciated part of the story in our view. Our recent NDR with Nucor mgmt noted the best demand environment in the past 25 years as virtually all verticals are strong sans energy.