How to Invest in Steel
Steel is an alloy of iron that has a carbon content between 0.2% and 2.1% by weight although there are numerous varieties based on its end application. For example, steel with added manganese increases the hardness of the metal and thus may be appropriate for buildings or other construction projects. Meanwhile, ‘stainless’ steel is a popular choice for users seeking a metal that can resist corrosion and this type usually has chromium added to its makeup.
In the modern world, steel has a wide variety of uses, finding its way into everything from infrastructure projects such as railroads and bridges, to consumer goods such as cutlery and wrist watches. The alloy also is crucial to transportation in the form of cars, ships, and trains, suggesting that not a day goes by that we are not influenced in some way by this extremely important metal.
For those seeking exposure to steel, there are a variety of options available. Although investors cannot achieve physical exposure to the product, they can buy futures contracts of a wide variety of steel types. Additionally, there are a number of companies that either process and make steel or mine for the product\'s key ingredient iron ore. Due to this, there are multiple steel ETFs and individual stocks that can allow investors to achieve exposure to the metal.
Ways To Invest In Steel
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