What do lumber, lithium and steel have in common? Each of them are commodities that saw massive price increases during the pandemic and subsequent pullbacks. Demand for housing, electric cars and construction drove the big increase in prices for these commodities and the companies that produced them posted record profits.
On Sunday we wrote about lithium producer Albemarle Corp (ALB) for our Insider Weekends article after both the CEO and General Counsel of the company purchased shares. Today we are exploring one of the largest and oldest steel companies in the U.S., Nucor Corporation (NUE), which announced a massive stock buyback program that replaces its prior equally massive repurchase program.