This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXNPEC0Q1B5_M.jpg
The potentially transformational investment creates room for immense opportunities and growth for the steel industry, owing to steel’s widespread use in construction. Furthermore, rising construction and manufacturing activities with the economy’s reopening should keep driving the demand for steel. The domestic raw steel production capability utilization rate hit 82.3% at the beginning of June, its highest rate since early 2020. A recent survey conducted by S&P Global Platts indicates that finished-steel prices in the United States are expected to rise throughout this month.
Considering the steel industry’s growth prospects, we think mid-cap steel stocks Reliance Steel & Aluminum Co. (RS), Ternium S.A. (TX), and Aperam S.A. (APEMY) could generate solid returns in the coming months.
