Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

2 Scorching-Hot Steel Stocks Rated Strong-Buy

Stock MarketsMay 14, 2021 05:30PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. 2 Scorching-Hot Steel Stocks Rated Strong-Buy

A gradual economic recovery is boosting demand for steel in response to strong demand from major end-markets such as automotive and construction. Against this backdrop, we think it could be wise to bet on fundamentally sound steel stocks POSCO (NYSE:PKX) and Companhia (SID).The rapid recovery of the steel industry following the pandemic-led slowdown has been driven primarily by high demand from China. The recovery has encouraged investors to buy steel stocks, as evidenced by VanEck Vectors Steel ETF’s (SLX) 15.5% gains over the past month versus SPDR S&P 500 ETF Trust’s (SPY) 0.6% loss.

The demand for steel is expected to increase in the coming months, with the economy's reopening driving increased steel demand from major end-markets, such as automotive and construction. And President Biden’s proposed $2 trillion-plus infrastructure plan is expected to further boost the demand for steel. According to Market Research Future, the steel market is expected to hit a $963.6 billion valuation by 2027.

Given this backdrop, we think it wise to scoop up the shares of POSCO (PKX) and Companhia Siderúrgica Nacional (SID), which are well positioned to benefit significantly.

Continue reading on StockNews

2 Scorching-Hot Steel Stocks Rated Strong-Buy
 

Related Articles

NFL explores strategic partnership for media assets
NFL explores strategic partnership for media assets By Reuters - Jun 23, 2021 1

(Reuters) -The National Football League (NFL) said on Wednesday it was exploring strategic options for its media assets including partnerships with "interested parties", months...

3 Top Energy Stocks That Pay High Dividends
3 Top Energy Stocks That Pay High Dividends By StockNews - Jun 23, 2021

Investors are focusing on high-dividend stocks as a stable source of income amid the near-zero interest rate environment. As such, with the energy sector rebounding rapidly, we...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email