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Business
Chris Markoch

Nucor and Steel Dynamics Just Pulled Back—The Steel Story Still Looks Strong

Nucor Steel Dynamics United States STLD

The basic materials sector has had a strong year in 2026. That performance is confirmed by the iShares U.S. Basic Materials ETF (NYSEARCA: IYM). It’s up more than 17% in 2026 and 21% in the last 12 months. Both numbers are higher than the S&P 500 average of around 13% (with dividends reinvested).

This broad sector includes steelmakers. Many individual names, such as Nucor (NYSE: NUE) and Steel Dynamics (NASDAQ: STLD), have outpaced the IYM ETF, and analysts believe both stocks have further upside ahead.

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