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VanEck Steel ETF upgraded to Buy as steel prices rise on tariffs and strong demand

Analyst Insights
18 Aug 2026
Seeking Alpha
View Source
Bullish
pluang ai news

The VanEck Steel ETF (SLX) has been upgraded from Hold to Buy due to persistent bullish steel market fundamentals expected to continue through August 2026. Factors driving steel prices higher include tariffs, sanctions, and rising production costs, pushing SLX close to its 2008 all-time high. The ETF holds diversified steel producers and commodity companies, with strong U.S. policy support benefiting key players like NUE. Investors are advised to accumulate SLX on price dips, supported by ongoing demand, trade policies, and inflationary pressures that underpin a positive long-term outlook.

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