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Amid surging demand due to the resumption of infrastructure and construction activities worldwide, China’s decision to cut steel production and exports has created a global supply crunch. Thus, steel prices have been soaring. Also, a bipartisan infrastructure bill in the U.S. Congress, if passed, should drive the demand for steel over the next few years and benefit domestic companies significantly. The global IF Steel market size is expected to grow at 5.3% CAGR to $61.48 billion by 2025. So, both CFL and X should benefit.
But while the shares of X have declined 3.2% in price over the past six months, CLF has surged 20.4%. CLF is a clear winner with 184.2% gains versus X’s 155% returns over the past year. But which of these stocks is a better pick now? Let’s find out.
