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3 Industrial Metal Stocks to Buy on the Dip -Breaking

by Mike Robinson

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© Reuters. Three Industrial Metal Stocks You Can Buy On The Dip

With declining COVID-19, global economic recovery continues, demand for industrial metals will increase as industries return to pre-pandemic production levels. We believe it would be prudent to invest in quality industrial metal stocks BHP, Rio Tinto (NYSE;), and Nexa Resources(NEXA). These stocks trade at a discount to their 52 week highs. However, they should generate significant ROI over the next few weeks. Continue reading. The industrial metals industry is attracting significant investor interest lately, as COVID-19 case numbers continue to fall and the industries slowly return to pre-pandemic levels. Investors’ interest in industrial metal stocks is evident in the Invesco DB Base Metals Fund’s (DBB) 10.9% returns over the past three months versus the SPDR S&P 500 ETF Trust’s (SPY) 4.4% gains.

Prices for iron ore have fallen in recent months due to China’s reduction of steel production. However, the prospect of increased spending predicated on the Biden Administration’s proposed infrastructure bill is expected to drive the industrial metals industry’s growth. A Mining Global Market Report estimates that the world’s mining market will reach $2,427.85 trillion by 2025.

It could make sense to invest now in fundamentally sound industrial-metal stocks BHP Group, Rio Tinto Group and Nexa Resources S.A.

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