Keep an eye on US Steel (X).
With higher demand for steel, the company now expects to post record EBITDA numbers in the third quarter. In fact, according to David B. Burritt, President and CEO, as noted by Street Insider, “the expected Q3 adjusted EBITDA will be a record result for the company, supported by strong reliability and quality performance, sustained customer demand, and continued increases in steel selling prices.”
Steel prices – and related stocks could easily see higher highs, especially with the current supply-demand imbalance. Plus, with a potential $1 trillion infrastructure plan designed to fix U.S. roads, bridges, and ports, there’s no telling how high steel prices could run.