You can say whatever you want about tariffs and the pros and cons on both sides of the argument, but with respect to the metals and mining companies, keep your ‘pros’ to yourself. The group has been stuck in a downtrend ever since the topic of tariffs first came up, and is now basically in full flush mode.
The table below lists the individual components of the group and how they’ve performed over the last six months, a period which roughly coincides with when the Administration brought up the topic of taxing steel imports in early March. During this period, just two out of the 20 members of the group have traded up, and one of them just happens to be a member of our Model Growth Portfolio! The remaining 18 members of the group are not only down, but they are down big. Eleven of them are down over 10%, and five of those are down over 20%, including Century Aluminum which has been cut in half!
