The steel industry has been under immense pressure lately due to reduced demand and logistical disruptions. China's strict lockdown measures have reduced steel consumption and industrial production, while the Russia-Ukraine war has aggravated supply chain disruptions. These factors have led to a drastic dip in steel prices. The Raw Steels Monthly Metals Index (MMI) plunged 8.9% from April to May.
But amid the broad market sell-offs, various buy-the-dip opportunities have been created for investors. With rebounding demand in the manufacturing and construction sectors and increasing investments in the infrastructure sector, the steel industry has promising growth prospects over the long run.
