Given the solid footing of the steel industry in the current macroeconomic environment, let’s explore the fundamentals of steel stocks such as Friedman Industries, Incorporated (FRD), Aqua Metals, Inc. (AQMS), and Companhia Siderúrgica Nacional (SID) to see if they are buy, sell, or hold candidates.
According to a survey, 94% of U.S. producers, distributors, traders, and end-users expected finished steel prices to rise in March, during which 45.7% of participants were seeing prices moving higher, with 100% expecting prices to increase or remain steady as domestic mills continued to raise their spot offers amid extending lead times and limited availability.
