Steel Stocks Are Due for a Fall. What to Know.
- Date: 01-May-2021
- Source: CNBC
- Sector:Financial Markets
- Country:Middle East
Steel Stocks Are Due for a Fall. What to Know.
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When steel prices soar, the return to earth is usually swift and painful—and that goes for steel stocks too.
Steel prices have gained nearly 60% in 2021, as commodities have rallied around the globe. It’s helped that steel companies had cut back on production during the pandemic, making the metal just one more commodity that has experienced high demand at a time of low supply. That’s been great for
U.S. Steel
(ticker: X),
Steel Dynamics
(STLD),
Nucor