Steel tariffs are back, and Cleveland-Cliffs, Nucor, and Steel Dynamics are emerging as early winners. Tariffs benefit margins and ETFs like SLX and XME offer diversified exposure.
Trump is set to deliver his remarks at 5 p.m. ET on Friday at a U.S. Steel facility in Pennsylvania, a key swing state he carried in the 2024 election.
The steelmaker reported an adjusted loss of $0.92 per share for the three months ended March 31, while analysts expected it to post a loss of $0.83 per share.
I wrapped up the trading week with twenty-eight bearish positions. Here are second half of the positions, zoomed in to the most salient portions of the chart:
JP Morgan downgrades United States Steel (NYSE:X) from Overweight to Neutral and lowers price forecast due to pending NSC deal and potential tariff risks.
We are revisiting a long-term cycle that we began tracking several years ago. This cycle has been elongated for the same reasons as other cycles/trends over the past couple of years.
Tariffs on metal imports create opportunities in ETFs focused on U.S. steelmakers. Top picks are VanEck Steel, SPDR S&P Metals & Mining, and Global X U.S. Infrastructure Development ETF.
The prospect of new trade restrictions has heightened concerns about inflation and potential trade wars, fueling demand for gold, traditionally seen as a hedge against economic and geopolitical instability.
Cleveland-Cliffs’ stock surge follows optimism around U.S. President Trump’s protectionist trade policies that could shield U.S. steelmakers from foreign competition.
On an adjusted basis, the company reported $53.7 million, or $3.20 per share, for the three months ended Dec. 31, compared with the average analysts’ expectation of $1.64 per share.
Energy transition reshaping mining industry, demand for critical minerals to triple by 2030 and quadruple by 2040. Copper remains key for clean energy, while nickel faces oversupply issues. Zinc and rare earth elements also in focus due to supply chain diversification efforts.
Cleveland-Cliffs reported preliminary 2024 results with a decrease in steel shipments and revenues, and plans to offer $750 million in Senior Guaranteed Notes.
Hedge funds offer valuable insights for retail investors. ETFs based on bullish sectors such as autos, homebuilding, mining and AI can capitalize on these themes.
Trump's first day in office saw executive orders on immigration and energy, withdrawal from global agreements, and tariff threats. Market reactions varied.
