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
(NUE), and others: A basket of six U.S.-traded steel companies has gained an average of 43% in 2021, nearly four times the