Companhia Siderurgica Nacional (NYSE:SID) saw a 7.43% surge on Wednesday, hitting a new 52-week high at $1.88 per share. Zacks Research predicts a positive outlook for the steel industry this year, with Companhia Siderurgica Nacional (NYSE:SID) among the top beneficiaries. Steel prices were up by 1.22% at $3,158 on Wednesday.

The steel industry is expected to thrive this year, with rising US steel prices and increased demand. Companhia Siderurgica Nacional (NYSE:SID), one of the leading steel producers in Brazil and Latin America, offers a diverse product portfolio including flat steel, galvanized sheets, and tin plates. SID is positioned for growth.

Zacks Research highlights the potential for steel producers like Companhia Siderurgica Nacional (NYSE:SID) to benefit from the current market landscape. Steel prices surged by 1.22% to $3,158 on Wednesday, reflecting the positive outlook for the industry. SID stands to gain from increased demand and supply constraints in the market.

Read more at Yahoo Finance: Companhia Siderurgica (SID) Hits New Record High on Steel Recovery, Upbeat Outlook