why the stock price increase?
According to Trading Economics,https://tradingeconomics.com/commodity/hrc-steel
HRC Steel increased 496 USD/T or 66.67% since the beginning of 2023
Also 1) Stelco is one of the most profitable steelmakers in North America 2) they have no debt 3) according to their CEO market conditions are looking more favourable now than they were in the fall of 2022 4) they are planning to buy back more of their shares 5) demand for steel is picking up in China and 6) some analysts predict that there will be more special dividends in the future.
Given the above it is likely that Stelco shares will continue to increase in value and should have a nice jump from where they are now at $58.90 before the next earnings release in May of 2023.