The U.S. infrastructure bill and ongoing global economic recovery bode well for producers.
Copper and steel are needed for any economic expansion and infrastructure push. On Wall Street, the red metal even has the nickname “Dr. Copper,” as if it had an advanced economics degree, given the correlation between its price moves and the direction of the economy. That’s because copper is used in a wide variety of goods such as wiring and piping for homes and businesses, electronics and cars. It’s also crucial to the energy transition, as it is a key ingredient in wind and solar farms.
Steel has a similar story, making up the skeletons of new buildings, bridges and automobiles. “It is certain that copper and steel will be in high demand for the indefinite future,” says Julia Spina, quantitative finance researcher with Tastytrade.
Here’s a look at seven of the best copper and steel stocks to buy today.
This post originally appear at U.S. News & World Report.