Total non-residential-construction spending is likely to disappoint over the next decade, but growth in construction-heavy industries like manufacturing and highways bodes well for some companies.
Narrow-moat Martin Marietta stands to benefit from improving U.S. construction activity.
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We don't see the recent share price declines for metals and mining producers as a buying opportunity on average.
Martin Marietta continues to raise prices despite the weak residential construction market.
Lower commodity prices and a break-up of the European potash cartel have weighed on basic materials stocks year-to-date.
Improved demand should underpin stronger potash and PRB coal markets in 2014.
High shipping costs prevent low-priced imports from entering these companies' markets.