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5 Stocks to Play the Steel Industry’s Revival

The steel industry is enjoying unprecedented prosperity, as steel prices have nearly quadrupled in the past year to $1,900 a ton. Yet steel stocks sport some of the market’s lowest valuations. Leading companies such as Nucor, Cleveland-Cliffs, United States Steel, and Steel Dynamics trade for two to five times 2021 estimated earnings. They could be worth far more as steel demand grows.

“We’re seeing a rebirth of the U.S. steel industry,” says Curt Woodworth, a steel analyst at Credit Suisse. “The industry is healthier than…

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