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Iron ore prices have plunged over the past few months as China reduced its steel production. However, the prospect of increased spending predicated on the Biden Administration’s proposed infrastructure bill is expected to drive the industrial metals industry’s growth. According to a Mining Global Market report, the global mining market is expected to reach $2,427.85 billion in 2025.
So, we think it could be wise to bet now on fundamentally sound industrial metal stocks BHP Group (NYSE:BHP), Rio Tinto Group (RIO), and Nexa Resources S.A. (NEXA), which are trading below their 52-week highs now but have significant upside potential.
