Steel ETF Looks Promising After Trump Win
Zacks Investment Research | Dec 06, 2016 01:18AM ET
The price of steel has been on the rise in 2016 after it fell to multi-year lows in 2015 owing to cheap imports from countries like China and Korea. Its northward journey paced up in the past one-month period. The lone ETF dedicated to steel stocks - VanEck Vectors Steel ETF (AX:SLX) has surged 22.2% outperforming the SPDR S&P 500 ETF (NYSE:SPY) (AX:SPY) , which gained 5.3% in the last 30 days (as of December 2, 2016). In fact, the fund has attracted inflows of $7.32 million during this period as per Zacks Investment Research
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