2016 has been a strong year for the steel producer industry, with several of its members seeing substantial double digit gains so far. The industry is currently ranked in the top 4% of all industries ranked by Zacks, and there are several members that hold a Zacks Rank #1 (Strong Buy), which means that the run may continue into the second half of the year.
Below are 5 Steel Producer stocks that all have a Zacks Rank #1 (Strong Buy) behind them, who have enjoyed a strong year so far, and could be headed even higher in the coming months.
ArcelorMittal (NYSE:MT)
ArcelorMittal is the world’s leading steel and mining company. With a presence in more than 60 countries, it operates a balanced portfolio of cost competitive steel plants across both the developed and developing world. It is the leader in all the main sectors such as automotive, household appliances, packaging, and construction. The company is also the world’s fourth largest producer of iron ore, with a global portfolio of 16 operating units with mines in operation or development.MT is currently a top Zacks Ranked stock, and has gained over 36 year-to-date.
Olympic Steel (NASDAQ:ZEUS)
Olympic Steel Inc. is a specialized steel service center that processes and distributes flat-rolled carbon, stainless, and tubular steel products. The company operates and an intermediary between steel producers and manufacturers that require processed steel for their operations. It also purchases flat-rolled steel typically from steel producers and responds to its customers’ needs by processing steel to customer specifications and by providing critical inventory and just-in-time delivery services. ZEUS is also a Zacks Rank #1 (Strong Buy) stock, and has gained nearly 138% so far this year.
Ryerson Holding Corporation (NYSE:RYI)
Ryerson Holding Corporation is a services company that processes and distributes metals. The company through its subsidiaries, purchases, processes, and distributes various forms of stainless steel, aluminum, carbon, alloy steel, nickel and red metals. Ryerson serves several industries including oil and gas, industrial equipment, transportation equipment, heavy equipment, and electrical machinery. It has operations primarily in the United States, Mexico, Canada, China and Brazil. RYI is a Zacks Rank #1 (Strong Buy) stock, and has gained more than 198% in 2016 thus far.
Schnitzer Steel Industries Inc. (NASDAQ:SCHN)
Schnitzer Steel Industries Inc. collects processes and recycles metals by operating one of the largest metals recycling businesses in the United States. They also manufacture finished steel products at their technologically advanced steel mini-mill. The company holds a top Zacks Rank, and has gained more than 30% year-to-date.
ARCELOR MITTAL (MT): Free Stock Analysis Report
SCHNITZER STEEL (SCHN): Free Stock Analysis Report
OLYMPIC STEEL (ZEUS): Free Stock Analysis Report
RYERSON HOLDING (RYI): Free Stock Analysis Report
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