In this article, we will discuss: 10 Best Steel Stocks to Buy Right Now.
Steel stocks refer to companies that manufacture, process, and distribute steel. Several corporations stand out as leaders in the steel market. The best steel businesses are better at cost control and have more advanced production capabilities, enabling them to compete on a global scale.
On February 24, 2026, Reuters reported that European Union officials expect the United States to drop tariffs on steel and aluminum products within weeks, quoting Bloomberg News and individuals familiar with the matter. Officials believe the decision will reduce a major source of tension in transatlantic trade relations. The proposed modifications would not affect tariffs on commodity-grade aluminum and steel. The prospective action comes as broader trade negotiations face renewed uncertainty following a US Supreme Court decision that curtailed the administration’s ability to use emergency powers to implement massive retaliatory tariffs. Reuters reported that the decision clouded prospects for a comprehensive deal between Washington and Brussels.
With that said, here are the 10 Best Steel Stocks to Buy Right Now.
Our Methodology
We used screeners to identify Steel Stocks and limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. These stocks are also popular among analysts and elite hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
10 Best Steel Stocks to Buy Right Now
10. NWPX Infrastructure, Inc. (NASDAQ:NWPX)
On February 24, 2026, NWPX Infrastructure, Inc. (NASDAQ:NWPX) acquired Boughton’s Precast, with the acquisition concluding on February 23. The company said that the deal is expected to result in immediate earnings growth. Boughton’s Precast, which manufactures precast concrete products and reinforced concrete tubes in Pueblo, Colorado, will be operated by NWPX under the NWPX Precast name.
On February 25, 2026, the firm reported fourth-quarter net sales of $125.6 million, up 5.0% year on year, and gross profit of $26.8 million, up 19.2%. The company reported Water Transmission Systems backlog of $234 million and confirmed orders of $346 million, while the Precast business had a $57 million backlog. NWPX Infrastructure, Inc. (NASDAQ:NWPX) reported fiscal 2025 net sales of $526.0 million, rising 6.8%, and a gross profit of $103.6 million, increasing 8.6%. The firm reported a record net income of $35.4 million, or $3.56 per diluted share, and generated $67.3 million in operating cash flow.
NWPX Infrastructure, Inc. (NASDAQ:NWPX) manufactures designed steel pipe and water systems in North America. It operates in the following segments: Engineered Steel Pressure Pipe, Precast Infrastructure, and Engineered Systems.
9. Metallus Inc. (NYSE:MTUS)
On February 19, 2026, Metallus Inc. (NYSE:MTUS) announced fourth-quarter 2025 net sales of $267.3 million, a net loss of $14.3 million, or $0.34 per diluted share, and adjusted EBITDA of $2.4 million. The corporation reported full-year 2025 net sales of $1.2 billion, up 7% YoY due to higher deliveries and raw material surcharge revenue. It recorded a $1.2 million net loss and $75.6 million adjusted EBITDA. Aerospace and defense sales climbed by 19% to $160.6 million, or 14% of total sales. Shipments grew by 14% to 631,700 tons, while melt utilization rose to 69% in 2025.
Metallus Inc. (NYSE:MTUS) generated $16.0 million in operating cash flow, ending the year with $156.7 million in cash and $389.2 million in total liquidity. The company spent $109.0 million on capital expenditures, with $22.2 million going toward share repurchases and convertible note settlements. Management said that it expects first-quarter adjusted EBITDA to expand sequentially.
Metallus Inc. (NYSE:MTUS) manufactures alloy, carbon, and microalloy steel products. The company produces bar-quality steel, seamless mechanical tubing, gears, steel grades, a jumbo bloom vertical caster, TimkenSteel ultrapremium technology, and TimkenSteel endurance steels.
8. Grupo Simec, S.A.B. de C.V. (NYSE:SIM)
On February 19, 2026, Grupo Simec, S.A.B. de C.V. (NYSE:SIM) announced 2025 net sales of Ps. 30,291 million, a 10% decrease as shipments declined by 6% to 1.933 million tons and average prices dipped by 4%. Sales outside Mexico plummeted by 14% to Ps. 13,234 million, while sales in Mexico dropped by 7% to Ps. 17,057 million. The company achieved a gross profit of Ps. 7,634 million, with the margin increasing to 25% from 23%. Operating income increased 1% to Ps. 5,365 million. EBITDA rose 1% to Ps. 6,446 million. Net income declined by 85% to Ps. 1,533 million, highlighting a net exchange loss of Ps. 3,602 million compared to a Ps. 5,556 million gain the previous year.
Grupo Simec, S.A.B. de C.V. (NYSE:SIM) reported net sales of Ps. 7,972 million and net income of Ps. 770 million in the fourth quarter of 2025.
Grupo Simec, S.A.B. de C.V. (NYSE:SIM) manufactures, processes, and distributes steel and structural steel products. It operates in three geographical segments: Mexico, the United States, and Brazil.
7. Gerdau S.A. (NYSE:GGB)
On February 23, 2026, Reuters reported that Gerdau S.A. (NYSE:GGB) announced a fourth-quarter adjusted net profit of 670 million reais, up 0.5% year on year. The firm posted adjusted EBITDA of 2.37 billion reais, down 0.7% YoY. The company generated revenue of 16.97 billion reais, up by 0.9% YoY. The North America division produced a gross profit of 1.56 billion reais, up 172%, due to steady demand and affordable costs. The Brazil segment’s gross profit fell 87.2% to 161 million reais. The company said that the decline was caused by seasonality effects and steel import demands.
The corporation has approved R$4.7 billion in CAPEX for 2026. It declared a dividend of R$0.10 per share. It executed buybacks of R$1.0 billion and authorized up to 56.4 million shares.
On January 23, 2026, BTG Pactual reduced Gerdau S.A. (NYSE:GGB) to Neutral from Buy while setting a price objective of R$27.
Gerdau S.A. (NYSE:GGB) manufactures and markets steel products. It operates in four segments: Brazil, North America, South Africa, and Special Steels.
6. Cleveland-Cliffs Inc. (NYSE:CLF)
On February 12, 2026, BofA lowered Cleveland-Cliffs Inc. (NYSE:CLF)’s price objective to $13 from $14.50 while maintaining a Neutral rating. The analyst noted a relatively stretched balance sheet and said a potential partnership with POSCO could significantly improve the company’s financial and operational outlook.
On February 10, 2026, GLJ Research cut Cleveland-Cliffs Inc. (NYSE:CLF)’ price target to $9.42 from $9.52 while maintaining a Sell rating. The firm modified its model following the fourth-quarter report to reflect decreased demand and described the company’s results and outlook as disappointing.
On February 9, 2026, Citi elevated Cleveland-Cliffs Inc. (NYSE:CLF)’ price objective from $11 to $13 while maintaining a Neutral rating. The analyst stated that the stock plunged 15%-20% as first-quarter 2026 projections showed approximately $140 million in EBITDA, which was lower than the $321 million Bloomberg consensus. Citi cited persistent EBITDA-per-ton and free cash flow concerns.
Cleveland-Cliffs Inc. (NYSE:CLF) is a flat-rolled steel firm that provides iron ore pellets to the North American steel industry. It specializes in the manufacturing of metallic and coke, iron and steelmaking, rolling and finishing, and downstream tubular components, stamping, and tooling.
5. Ternium S.A. (NYSE:TX)
On February 19, 2026, Wells Fargo decreased Ternium S.A. (NYSE:TX)’s price objective from $34 to $33. The analyst retained an Underweight rating following the fourth-quarter shortfall. The firm warned of ongoing concerns from Chinese oversupply, despite trade restrictions in Mexico and Brazil. Wells Fargo said that it expects EBITDA to remain high in 2026 compared to market conditions.
On February 18, 2026, Ternium S.A. (NYSE:TX) said it expects first-quarter 2026 adjusted EBITDA to increase sequentially. The company expects increased shipments, mainly in Mexico, and improved margins due to higher revenue per ton. Brazil applied antidumping tariffs in an attempt to reduce unfair steel imports. Argentina anticipates a gradual recovery in steel sales, driven by mining, agriculture, energy, and construction.
On February 3, 2026, JPMorgan increased Ternium S.A. (NYSE:TX)’s price target to $44 from $40.50. JPMorgan maintained an Overweight recommendation on the stock.
Ternium S.A. (NYSE:TX) produces flat steel. It operates through two segments: steel and mining. The Steel section covers the sale of steel products.
4. Reliance, Inc. (NYSE:RS)
On February 20, 2026, Seaport Research lifted its price target for Reliance, Inc. (NYSE:RS) to $340 from $315. Seaport Research maintained a Buy rating. The firm said that management has executed well and delivered bottom-line growth throughout the cycle. It also stated that the company retains flexibility for shareholder returns.
On February 20, 2026, JPMorgan lowered Reliance, Inc. (NYSE:RS) to Neutral from Overweight. JPMorgan reduced its price objective to $330 from $340. The downgrade came after an earnings miss caused by aluminum margin pressure. The firm cautioned that elevated first-half pricing may moderate. Tariff-driven pressures may remain despite sluggish semiconductor and commercial aerospace sales.
On February 20, 2026, BMO Capital lowered Reliance, Inc. (NYSE:RS) to Market Perform from Outperform. BMO Capital also trimmed the price target to $320 from $340. The firm reported a slower-than-expected margin improvement. The analyst said that the company’s performance remains resilient over time.
Reliance, Inc. (NYSE:RS) operates a metal distribution center. It provides alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel goods.
3. Steel Dynamics, Inc. (NASDAQ:STLD)
On February 21, 2026, Steel Dynamics, Inc. (NASDAQ:STLD) increased its quarterly cash dividend by 6% to $0.53 per share, payable on or about April 10 to shareholders of record on March 31.
On February 18, 2026, SGH and Steel Dynamics, Inc. (NASDAQ:STLD) announced that they had presented a new Non-Binding Indicative Offer to buy 100% of BlueScope Steel. The firms offered AU$32.35 per share in cash, which is equivalent to AU$34.00 per share before deductions of AU$1.65 related to BSL’s AU$1.00 unfranked special dividend and AU$0.65 unfranked interim dividend. The offer values BlueScope Steel at AU$15 billion, or about $11 billion, all in cash.
On January 26, 2026, Steel Dynamics, Inc. (NASDAQ:STLD) announced fourth-quarter net sales of $4.4 billion, with net income of $266 million, or $1.82 per diluted share, compared to $404 million, or $2.74, in Q3 and $207 million, or $1.36, the year before. The corporation’s 2025 net sales were $18.2 billion, with an operating income of $1.5 billion, a net income of $1.2 billion, and an adjusted EBITDA of $2.2 billion, resulting in $1.4 billion in operating cash flow. Steel shipments totaled 13.7 million tons. The firm repurchased $901 million in shares and finished the year with liquidity surpassing $2.2 billion.
Steel Dynamics, Inc. (NASDAQ:STLD) produces steel and recycles metals. It operates in four segments: steel operations, metals recycling operations, steel fabrication operations, and aluminum operations.
2. Nucor Corporation (NYSE:NUE)
On February 20, 2026, Reuters reported that Nucor Corporation (NYSE:NUE) chose insider Jack Sullivan as chief financial officer, effective March 1. Sullivan is succeeding Steve Laxton, who was appointed president and chief operating officer at the beginning of the year. Sullivan currently serves as the vice president and treasurer in charge of investor relations. He joined the firm in 2022 as general manager of investor relations.
On January 28, 2026, UBS analyst Andrew Jones reduced Nucor Corporation (NYSE:NUE) to Neutral from Buy while raising his price objective to $183 from $168.
On January 27, 2026, Reuters reported that Nucor Corporation (NYSE:NUE)’s fourth-quarter earnings per share were $1.73, failing the $1.91 projection. The revenue climbed 9% to $7.69 billion but fell short of the $7.87 billion consensus, sending shares down 3.4% in after-hours trade.
Nucor Corporation (NYSE:NUE) manufactures steel products, as well as ferrous and nonferrous materials. It operates in three segments: steel mills, steel products, and raw materials.
1. ArcelorMittal S.A. (NYSE:MT)
On February 23, 2026, Barclays analyst Tom Zhang upgraded ArcelorMittal S.A. (NYSE:MT)’s price objective to EUR 45 from EUR 39, maintaining an Equal Weight rating.
On February 17, 2026, Morgan Stanley analyst Alain Gabriel raised his price objective on ArcelorMittal S.A. (NYSE:MT) from EUR 46.20 to EUR 54.30 while retaining an Overweight rating.
On February 5, 2026, Reuters reported that ArcelorMittal S.A. (NYSE:MT)’s fourth-quarter EBITDA was $1.59 billion, exceeding the $1.51 billion consensus by $80 million. Shares rose more than 3% to their highest level since August 2011. The company expects EU policies, such as the Carbon Border Adjustment Mechanism and anticipated import quota cuts, to lower flat and long steel imports into the bloc by almost 40% compared to 2024 levels. Management said that these measures should promote higher capacity utilization and profitability, with full effects expected in 2027, while anticipating 2% global demand growth excluding China.
As of February 25, 2026, the stock is up by 42.20% year to date.
ArcelorMittal S.A. (NYSE:MT) is a holding company that manufactures steel and operates mines. It has the following business segments: NAFTA, Brazil, Europe, Africa and Commonwealth of Independent States (ACIS), and Mining.
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