The Top 3 Steel Stocks You May Want to Consider

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Keep an eye on steel stocks.

While many have already seen a big run over the last few months, they could see higher highs, according to analysts at Seaport Global.

In fact, “The reason commodity prices are up isn’t a mystery. Reduced supply and better than expected demand coming out of the pandemic is the reason. U.S. steel production still hasn’t hit pre-pandemic highs,” noted the analysts, as reported by Barron’s.

At the moment, the analysts have a buy rating on Nucor, and Steel Dynamics.  The firm also has a $165 target on Reliance Steel & Aluminum.  Forcing steel prices even higher is the potential infrastructure bill.  After all, spending on roads, bridges and other structures will drive even more demand for steel and benefit steel stocks.

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