We don’t necessarily see a big influence there. We do feel strongly that any tariff and quota type activity will transition into some form of carbon tax on border tax. Actually, in the long run will likely be a lot more effective than the perhaps was in place today. Again, we need to remember and highlight that the principal trade constraints, the countervailing duty anti-dumping cases that were brought in 2015 went through sunset last summer and got continued. I think it’s another five years. Those are legislative in nature. They won’t change. They firmly, firmly, or eliminate these imports, for instance, certainly in addition with, or in concert with the kind availing duty.
Bill Peterson: Okay. Thanks for that color. Second question. So on bar volume, so you mentioned that there’s some impact with the strike, but the strike really only started, I guess in late in the third quarter. So how should we think about the trajectory of volumes, assuming a bigger hit in the fourth quarter for that segment?
Mark Millett: Well, for us, we don’t really see a major change in volume from an automotive perspective in the fourth quarter for us. As I mentioned in my notes, we have a large percentage of our auto book is European and Asian. They are not impacted by the strike as of now. We are — we do have some business with Aymium and with Ford. But again, on a percentage basis, it’s not going to be monumental to our book volume or earnings.
Bill Peterson: Okay. Thanks for sharing the insights.
Operator: Your next question is coming from John Tumazos with John Tumazos Independent Research.
Unidentified Analyst: Thank you.
David Lipschitz: Hi, John.
Unidentified Analyst: With all the great dynamics benefiting the steel business, industry-wide apparent demand looks like it’s trending about 8 million tons below the average of 2017, 2018, 2019. I don’t know what’s normal, but I’m looking to the pre-pandemic period. Your own choice business is off 16,000 tons sequentially, and I guess 56,000 tons year-on-year. And there’s no inventories in choice because they’re made custom order. What are the segments that are down that are negating some of the other growth or accounting for the decline? A high rise office building with work at home with lower consumer spending, ecommerce warehouses and retail space are poor. Are there any other segments that could account for the deviations?
Mark Millett: Well, I think from a — we got some feedback going on here, but the — we’re talking principally fabrication here. Yeah. I think it — when — again, all we can do John, is look through our book order book or lands, but obviously the distribution warehouse arena has come off, not stopped. It’s not — Amazon obviously came out very publicly and sort of almost holding the development because they over bill, but that’s not the case with other distributors. It’s still ongoing market for us. All of them is there. But I think we picked it up education, healthcare has been positive and the just manufacture — manufacturing facilities, the battery plants, the chip plants are picking up. Not at the rate to offset, totally offset that distribution base, but nonetheless, it’s picking up strongly and we would anticipate continued growth next year. Just the infrastructure, the IRA spending that certainly will bolster our order book there and give it some support.
Unidentified Analyst: In terms of the two-year decline in spot sheet prices of $1,200 from big records, how much damage do you think that’s caused across consumer and distributor inventory as you know, and prices fall, people don’t want to hold the hot potato.
