TheStreet’s Jim Cramer says Nucor (NUE) is a best of breed stock in the steel sector, and can be bought for the long term. He says the company is very well run and is far less likely to give up its recent gains. Cramer says companies like AK Steel (AKS) and US Steel (X) have seen their stocks rally sharply after a faux credit crisis in the second week of February. Cramer added if those two companies would offer equity, it would solidify their balance sheets. Cramer noted that steel stocks bottomed after a big tariff was slapped on Chinese steel earlier this month. Cramer wrote in Real Money that ‘the dumping was so rife that even our endless globalization love fest had to be nipped, given the outrageous and almost punitive Chinese attempts to dump steel.’ Cramer is portfolio manager of Action Alerts PLUS.
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