The steel stocks in the basic materials sector have been benefactors of President Trump’s steel and aluminum tariffs. However, U.S. Steel’s 26.5% year-to-date (YTD) performance as of Mar 28, 2025, may be caused by more than just tariff benefits, especially when peers like Nucor Co. (NYSE: NUE) and Steel Dynamics Inc. (NASDAQ: STLD) are only up 4.5% and 8.7% YTD, as of Mar 28, 2025, respectively.
The acquisition of United States Steel Co. (NYSE: X) by Japan’s Nippon Steel is currently in a state of flux, but it's gaining optimism. A state of flux is better than dead and terminated. At least, that's what United Steel shareholders are feeling. The merger, once thought to be dead and buried after the Biden administration blocked it and President Trump vowed not to let it happen, has been experiencing a sentiment shift. U.S. Steel stock has rebounded 60% off its 52-week low of $26.92 in September 2024.
