Nucor and other steel stocks rose in Monday trading, helped by a Wall Street broker’s more “constructive view” of the sector. UBS analyst Andrew Jones said in a Monday report that American steel stocks that he follows are down more than 15% from mid-December levels despite President Donald Trump’s trade protections.

Steel prices have soared since President Trump signed an order in early February imposing a 25% tariff on all steel and aluminum imports. Nucor has reportedly raised prices eight times since the start of the year. The company now charges $930/short ton for hot-rolled coil, up more than 17% since Trump’s tariff order.