Matt Badiali is not only known as the founder of Banyan Hill Publishing but is also well-recognized for his prominent role in the world of finance. With his academic and professional achievements, it is no wonder that those who want to learn more about investing in steel stocks turn to him.
With a bachelor’s degree in earth sciences and geology and mastered both of them in 2000, it is easy to conclude that Matt Badiali is an expert in natural resources. For this reason, he has specialized in investing in gold, forestry, and oil among others.
For more than four years, he worked as a geologist in a drilling company where he performed various jobs, including site visits, environmental samplings, and many more. Having acquired all these experiences allowed him to become well-versed when it comes to investing in different stocks. For those searching for advice when dealing with steel stocks, Matt Badiali can help them come up with a plan that can lead to achieving specific investment goals. Visit dailyreckoning.com to know more about Matt Badiali.
For several weeks now, steel has been rallying, which is actually quite unexpected in trading. Even before the rise of the steel stocks, Matt Badiali has been paying attention to the pricing of steel in the market. On the other hand, mainstream investors chose to ignore the base metal rates and continued with other sectors.
With the imposed 25% tariff on imported steel from Mexico, the EU, and Canada, investing in steel stocks eventually became a hot topic. The tariffs have a temporary nature, but despite that, the stocks soared.
Steel prices have increased by almost 40% compared to last year. As a result, many investors are thinking of joining the craze. However, Matt recommended that people should proceed with caution from now on. The rise of steel prices is a dual-edged sword, particularly for the industry. While it can offer more revenue for the investors and the industry, it also means that the consumers are suffering from the high costs.
There are repercussions of the increase in prices, including the slowing down of housing construction as well as auto sales. When the costs of steel begin to decline, mining companies will have a huge problem.
It is true that the steel industry is doing very well right now and it will most likely continue for a few more months. However, Matt Badiali notes that steel stocks can be cyclical and you will be better off in the long run if you stick with industry leaders.