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MT: Buy These 2 Stocks as Steel Prices Continue to Soar


Buy These 2 Stocks as Steel Prices Continue to Soar
MT – Steel plays a significant role in the industrial and manufacturing sector. As the demand for steel rises with a global economic recovery–and with that its price–we think companies such as ArcelorMittal (MT) and Olympic Steel (ZEUS) should deliver significant returns in coming months.
Mar 15, 2021
The global lockdown and subsequent social distancing restrictions compelled by the COVID-19 pandemic caused the steel industry to plummet over the first two quarters of 2020. The near halt in industrial and manufacturing activities in China contributed significantly to a global supply glut because China is the world’s largest consumer of steel. With excess reserves and falling prices, global steel production fell 1.4% year-over-year in the first quarter of 2020. ....

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