4 Top Iron Stocks to Buy Now

4 Top Iron Stocks to Buy Now

Given iron's vital role in building the infrastructure needed to expand the global economy, it's a key metal for investors.. Overall, it's the third-largest commodities market by dollar value behind oil and gold .. While there are hundreds of oil stocks and dozens of publicly traded gold mining companies , investors will only find a handful of top iron stocks.. The global resources giant produced 238 million tons of iron ore in its fiscal 2019, which was roughly flat with 2018's level.. All of the company's iron ore output in fiscal 2019 came from its interest in Western Australia Iron Ore (WAIO), which is a series of joint ventures (JVs) located in the iron-rich Pilbara region of northern Western Australia.. The company is investing more than $3 billion into the project so that it can eventually replace the 80 million tons of annual output at the Yandi mine when it depletes.. Such a move would benefit iron ore producers since steel is a crucial component of wind turbines.. BHP Group's exposure to fossil fuels aide, it's among the leaders in the iron ore sector, which makes it one of the top stocks in the industry