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However, the company’s weaker-than-expected second-quarter earnings, amid a favorable industry backdrop, and with the potential impact of China’s slowing recovery on the metals and mining industry, the stock to suffer a price decline in the near term.
In contrast, we think its peers, Nucor Corporation (NYSE:NUE), Companhia Siderúrgica Nacional (SID), Aperam S.A. (APEMY), and Acerinox, S.A. (ANIOY), are well-positioned to offset the pressure created on the industry by macro issues in China and benefit from the infrastructure bill. So, we think these stocks are better investments than CLF now.
