Steel (HVK24) is an essential commodity used to build the global economy. In fact, 1.9 billion tons of steel are produced each year to build vehicles, machinery, bridges, and much more. In recent years, specialty metals have somewhat replaced steel, but the long-term demand for the commodity remains robust.
Given these factors, it makes sense to invest in steel-producing companies equipped with modern manufacturing capabilities and a low-cost base. One steel stock under $10 that has significant upside potential is Gerdau (GGB). Let’s see why.
