Workers replace a roller that compresses steel at the A&T Stainless Steel plant in Midland, Pennsylvania, March 2, 2020.
Michael Rayne Swensen | Bloomberg via Getty Images
The high steel price should give producers a windfall to put their companies on a better course in the coming years, according to JPMorgan.
The price of steel, like many other raw materials and industrial inputs, has risen in the first half of 2021 as the global economy tries to ramp up its recovery from the pandemic.
Analyst Michael Glick began covering stocks in the steel industry on Wednesday, saying in a note to clients that steel prices were close to peaking, but the recent rise should give big companies enough money to rebuild their businesses.