Steel penny stocks are rising as investors demand more from the metals giant, while other big players like steel mining companies and aluminum producers are struggling.
The price of nickel and cobalt has risen to their highest levels since the early 2000s, and copper prices have also surged.
The U.S. economy, which has grown at a sluggish pace, has been hurt by a sharp drop in crude oil prices, as well as rising health care costs and higher taxes.
The metals industry has also been hurt, as China’s government is tightening controls on the metal.
Here’s what you need to know about the top three metals stocks.1.
Steel PennyShares of steel mining company Westinghouse are up $4.56 to $36.54.
The company is in the midst of an expansion plan to boost production to a record high of 5.2 million tons a year, as the United States seeks to increase output to about 5 million tons.
The rise in shares comes after a series of big increases by Westinghouses this year, including its first quarterly gain of $2.54 on Thursday.
The firm also reported its second-quarter earnings Friday, showing that the stock rose 11% in the quarter, thanks to a stronger than expected revenue increase from its nuclear reactor business.2.
Platinum has climbed $1.18 to $30.69 after its biggest gain since October.
Platinum is a major miner of nickel ore, and its shares jumped more than 15% on Friday after a rally on Friday.
Platinum’s mining operations have seen a boom in recent years thanks to the discovery of new copper deposits and the use of the mineral to make batteries, generators, and other products.
Platinum also has been adding nickel ore to its supply chain to meet growing demand.3.
Zinc Corp., the maker of zinc, has climbed more than $1 a share to $40.80 after the company reported a record $9.88 billion profit for the year.
The zinc company, which was spun off from Dow Chemical in 2012, has said it’s aiming to increase its output to 6.5 million tons by 2020.
It’s the largest producer of zinc ore in the U.