Steel and aluminum stocks surged Monday after President Donald Trump said he will impose 25% duties on all imports of the metals into the U.S.
Cleveland-Cliffs rallied nearly 18%, Nucor jumped more than 5%, Alcoa rose more than 4% and U.S. Steel gained nearly 5%.
"Any steel coming into the United States is going to have a 25% tariff," Trump told reporters on Air Force One on Sunday. The president said he will also slap 25% tariffs on aluminum imports.
CNBC