I’ll maybe kick it off and then Steve or Rex, I would tell you, no, I don’t think it’s restocking. If you look at the MSCI numbers are hovering around the two months on hand, which, again historically has been low. I don’t know and I don’t, we don’t anticipate these jumping to three or four anytime soon. I think that’s going to be a balanced approach for what Timna asked about interest rates and then again availability. So what I would tell you is, yes, you saw a large increase in our sheet group that is real demand. But does that – stack in that continue? Well, look, we think second quarter is going to be strong. But as we play out the rest of the year, we’ll have to sort of wait and see. But the increase within that – if you broke out that increase in shipments, some of that is the loss of imports.We’ve seen the imports drop off significantly Q-over-Q.
And some of that is also establishing different partnerships with our commercial teams and how we’re going to market. We mentioned in my opening remarks, the relationships and partnerships we have with Train [ph] and General Motors and Johnson Controls. And there’s another 20 customers like that, that we’re partnering with different to provide them something unique and again, a very differentiated value proposition.Chad Utermark Yes. I’ll just jump in on the nonres part of your question, Alex. As we mentioned, manufacturing is robust and I would say, get ready infrastructure is going to be coming to support where we’re going. But you asked about the drop off. And it really is, I believe, led by warehousing has dropped off significantly from these peaks.
I would just remind everyone how high that peak went and where we’re at today compared to historical levels is still pretty healthy on the warehousing side. But that – your question was what drove the drop off, and I would say warehousing was the big market.Alex Hacking Thank you.Leon Topalian Thanks, Alex.Operator Ladies and gentlemen, this concludes the question-and-answer session. I’d like to turn it back over to the management team for any final remarks.Leon Topalian Well, thank you. And in closing, I want to thank our Nucor team for their incredibly strong start to 2023 and your continued focus on our most important value to health, safety and well-being of our team. I want to thank our shareholders for your investment and your trust.
We take that stewardship incredibly seriously. We appreciate the opportunity to serve you in our customer base. Thank you all for your interest in Nucor, and have a great day.Operator Thank you, sir. Ladies and gentlemen, this concludes today’s conference call. We thank you all for attending today’s presentation. You may now disconnect your lines, and have a wonderful day.
