FSUMF - 4 Top Iron Stocks to Buy Now
Iron is one of the most important commodities in the world. It's the largest global metals market as the economy uses more iron by volume than any other metal. That's because it's a crucial ingredient in making steel, which is in everything from buildings and bridges to pipelines and appliances. Iron is also essential for renewable energy as steel is the main component in wind turbines.
Given iron's vital role in building the infrastructure needed to expand the global economy, it's a key metal for investors. Overall, it's the third-largest commodities market by dollar value behind oil and gold.
However, despite its size and importance, not that many companies focus on mining the metal. That's because it's so costly to produce that companies need to operate a large-scale position in an area where ore is abundant to make it economical. As such, while there are hundreds of oil stocks and dozens of publicly traded gold mining companies, investors will only find a handful of top iron stocks.