Shares of several steel companies are trading higher, potentially amid US infrastructure optimism and outlook for an economic recovery, both of which could lift demand. Additionally, ArcelorMittal (MT) reportedly raised flat steel price offers.
Steel Stocks Higher Friday: US Steel Up 8%, Nucor Up 7%, Arcelor Mittal Up 6%, Steel Dynamics Up 5%(Benzinga)
While I don't buy the news... it can confirm my observations.
03-26-2021 Buying with a small position (30%) due to market conditions. MT is in the metals and mining steel sector. Also, bought SLX ETF. All key stocks in this EFT have positive YTD return.
YOY Earnings 67.4%
Qtly: 57.89%
Others in sector up
For educational purposes only... not trading advice.