Buy CMC by Jun 22, 2026.

Hyperscalers are committing anywhere between $600-700B in Capex for 2026. Most of this money will be spent on infrastructure build-out, specifically data-centers (DC). Every DC before it ever touches a GPU or rack, needs steel. It's estimated that each DC will need >20,000 tons of steel. This information isn't new, and SLX, a pure global steel ETF already ran up +34% in the past year, but I do think there are still meaningful bets remaining within the steel players. My …