SLX: Finally Back To 2008 Highs, But Steel Stocks Are Just Getting Started

VanEck Steel ETF aligns with a bullish global reflation cycle and earns a reiterated buy rating. SLX offers attractive valuation at 13.3x P/E, 12.4% long-term earnings growth, and strong technical momentum. Top holdings like RIO and BHP drive performance; over 70% international allocation provides currency diversification.