3 Buy-Rated Commodities Stocks Up More Than 15% Last Week By StockNews – Investing.com

3 Buy-Rated Commodities Stocks Up More Than 15% Last Week By StockNews – Investing.com

© Reuters. 3 Buy-Rated Commodities Stocks Up More Than 15% Last Week

As the global economy gradually recovers, commodity prices are climbing to new highs on increasing demand. So, it could be wise to bet now on commodities stocks Nucor (NUE), Aluminum Corporation (ACH), and Steel Dynamics (NASDAQ:). These stocks gained more than 15% last week and we think have the potential to continue their price ascent.Commodities stocks have been rallying over the past few months as an economic recovery gains steam. Growing demand for commodities such as iron ore and steel, among others, has driven increasing prices. In fact, some market observers speculate that iron ore prices will hit $200 per ton, surpassing the record $194 level achieved more than a decade ago. The ramping up of steel production in China should drive iron ore prices way up given the inability of miners to meet the rising demand. And President Joe Biden’s proposed ‘Build Back Better’ infrastructure plan is further expected to boost demand for commodities.

Investors’ interest in commodities stocks is evidenced by SPDR S&P Global Natural Resources ETF’s (GNR) 10.4% gains over the past month compared to the SPDR S&P 500 ETF Trust’s (SPY) 1.6%