November MSCI flat rolled data showed a 2.2% YoY gain in the daily shipment rate while inventory has fallen 20% YoY to 4.45m tons. MoM data showed a 4.2% drop in the daily shipment rate with 208k less tons in inventory.Months-on-hand is down 26% YoY while D.S.R. M.O.H. is down 22%. These are staggering figures. Picture Donald Trump holding two sparklers in the middle of a California forest that hasn’t seen rain in months. Boom goes the dynamite! From a fundamental perspective, the domestic steel and manufacturing industry is one catalyst away from a historic restocking bottleneck that could send prices to amazing levels.