With sanction applied to Russia and construction starting to boom after the period of stagnant during COVID-19. Steel industry in Europe is one of the pillar for construction industry in EU, just my thought. So I am starting to look into this area.
A few come to mind
VOE.VI / VLPNY (Voestalpine AG)
Nucor Corporation (NUE),
Unlike other raw materials steel are not easy to be exported as it is very heavy and low value item. So the best one is to be sourced locally.
From all of this seems to have the lowest P/E ArcelorMittal (MT.AS). But I just notice that this companies/group is very much under the control of Lakshmi Mittal Family. I try to avoid a company which is under the control of a family as the business as the report could easily be internally manipulated.
Is it reasonable to concern about family own and is there any apparent risk with investing in ArcelorMittal (MT.AS) ?
If you are about the choose the steel industry in the US and EU which one you would suggest and why ?? Thanks