The high price of steel should give producers a windfall to set their companies on a better trajectory in the years ahead, according to JPMorgan.
The price of steel, like many other commodities and industrial inputs, has surged in the first half of 2021 as the global economy tries to ramp up its recovery from the pandemic.
Analyst Michael Glick initiated coverage of steel industry stocks on Wednesday, saying in a note to clients that the prices for steel were near a top but the recent surge should give the major companies enough cash to remake their businesses.
