Steel ETF Could be a Contrarian Idea
October 20, 2015 at 09:00 AM EDT
The materials sector is one of the worst-performing groups in the S&P 500 this year and part of the sector’s woes can be attributed to still struggling steelmakers. The Market Vectors Steel ETF (NYSEArca: SLX) is down nearly 31% year-to-date. Recent weakness in a widely followed chemicals...