In this article, we will examine the Top 6 Steel Stocks to Buy Amid US Tariffs.
Steel prices have been on an upward trajectory in response to supply cuts and, most importantly, due to tariffs imposed by President Donald Trump. The President’s hiking steel import tariffs from 25% to 50% has only put pressure on an industry that is already struggling with supply issues.
Trump has imposed tariffs on steel imports into the US in a bid to boost domestic manufacturing.
“We’re going to bring it from 25 percent to 50 percent, the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States,” Trump told the crowd. “Nobody’s going to get around that.”
The NYSE American Steel Index shows that steel prices have increased by 22% year to date amid the weight of tariffs and uncertainty. Amid the price spike US steel stocks have posted significant gains since Trump implemented protectionist measures to support domestic manufacturing.
Given that steel prices were already higher in the US, the tariffs have only put more pressure on triggering reduced imports into the US, where demand remains high.
“This was an absolute surprise. Already steel prices in the US are higher than anywhere else, and it is a net importer which needs to have volumes coming in. All this does is raise prices there,” Josh Spoores, head of steel Americas analysis at CRU.
Steel demand is expected to continue rising as manufacturers in Europe keep building steel-intensive products at home and exporting them to the US to fetch higher prices. Cars, construction products, and appliances are among the products likely to feel the impact of steel tariffs.
Given that the long-term outlook remains positive amid the continued spike in steel prices and demand, let’s look at some of the top steel stocks to buy amid US tariffs.
Our Methodology
To compile the list of the top steel stocks to buy amid US tariffs, we used Finviz to screen for companies that produce and supply steel and its products. We settled on companies with positive year-to-date gains (as of October 24) and that were popular among elite hedge funds, as of Q2 2025. Finally, we ranked the stocks in ascending order based on the number of hedge fund holders, as reported by Insider Monkey’s Q2 2025 database.
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).
Top Steel Stocks to Buy Amid US Tariffs
6. ArcelorMittal S.A. (NYSE:MT)
Year to Date Returns: 70.17%
Number of Hedge Fund Holders: 18
ArcelorMittal SA (NYSE:MT) is one of the top steel stocks to buy amid US tariffs. The stock has been on an impressive run, with a 66% year-to-date gain. Analysts at Goldman Sachs downgraded ArcelorMittal SA (NYSE:MT) to ‘Neutral’ from ‘Buy’ on October 10.
The downgrade came amid confidence that the stock remains fully valued at current levels after an impressive year-to-date rally. The stock has gained 54.8% since Goldman Sachs added it to its Buy list, benefiting from a spike in steel prices amid US tariffs. Goldman Sachs expects capacity cuts in China to bolster steel prices, which should enhance the company’s prospects.
Similarly, raw material deflation has bolstered the company’s margins. In addition, safeguards in key markets, such as Europe and India, are expected to strengthen stock sentiment further. Likewise, the investment bank has warned that high energy costs could limit further gains.
While the risk-reward for ArcelorMittal remains balanced at current levels, Goldman Sachs expects the company to benefit from sustained cost tailwinds and effective EU policy change. The EU has proposed reducing tariff-free import volumes by 47% to 18.3 million tons.
ArcelorMittal SA (NYSE:MT) is a leading steel and mining company that produces and sells steel products for industries like automotive, construction, and household appliances. The company is also involved in mining iron ore and metallurgical coal to supply its steelmaking operations, and it focuses on developing innovative, sustainable, and lower-carbon steel solutions.
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