Nucor (NYSE: NUE) has been on a tear since I last wrote about the company in late March when the stock hit a 52-week high . The steel stock has done it again this week, rocketing another 10.7% as of 10:34 a.m. ET on Thursday, according to data provided by S&P Global market Intelligence. It even hit an all-time high of $166.81 a share.
Nucor shares aren't flying because of a fluke, as you might see within a week's time.
Russia continues to invade parts of Ukraine, which is urging more nations to impose sanctions on imports of key commodities from Russia. The sanctions have roiled the global commodity markets , including steel, as both Russia and Ukraine are major exporters of pig iron, a key input in steelmaking.
For further details see:
Why Nucor Stock Shot Up to All-Time Highs This Week