Steel production will probably fall this year by the largest margin since the Second World War. Most folks in the steel business have gray and soggy outlooks for 2010. Most, but not Lakshmi Mittal.

Steel maker Nucor Corp.’s (NYSE: NUE) stock has rallied some 51% from its March 3 low of $29.84 a share and has twice bumped against its recent high of $49.91 a share. 

Barack Obama will soon be US president. And his first act will be to sign a stimulus package worth up $1 trillion into legislation. Andrew Snyder says investors should move now to ensure they get a share. He says the US steel industry is likely to be a major benefactor of the stimulus, and recommends three companies poised to make big gains.

China’s stimulus package proves that the global infrastructure boom is not dead, says Justice Litle. And that’s big news for base metals like copper. These are essential for construction, and will soar as the world attempts to rebuild its economy. That makes strong base metal producers a bargain now.

After China unveiled plans for a $586-billion stimulus package on Sunday, the media was abuzz that it could re-start the flagging commodities market. But it may be premature to peg all your hope on a single massive infrastructure build-out.

Somewhere along the road, America forgot how to make things. Finance became our national product. But things are about to change, says Chris Mayer. As the global banking system cracks, investors will return to the simple, tangible things that we need. And this will create some stunning profit opportunities for those who move quickly.

Little-known metal molybdenum is essential to a host of fast-growing industries from energy to construction. Companies can’t open mines fast enough. Demand has sent the price soaring 1,000% in the last five years. Jim Nelson says this is still just the beginning for the metal. He expects another surge in the next 12 months.

As Wall Street descends into chaos, many investors are happy to sit on the sidelines holding cash. But there are still profits to be made for big-picture investors.

Chris Mayer says the next “megatrend” will be a $41 trillion global infrastructure boom. Urbanization on a massive scale in China and India requires huge construction projects. And this will create huge demand for building materials (like cement and steel) and basic commodities (iron ore, copper and nickel).

Chris says power-grid builder ABB (NYSE:ABB) and road-building equipment maker Astec Industries (NASDAQ:ASTE) are stocks to watch…

Editor’s Note: BHP Billiton (ASX:BHP) and Rio Tinto (ASX:RIO) are the twin mining pillars of the Australian Securities Exchange. But which one is the better investment? Dan Denning in The Daily Reckoning Australia explains why BHP does more to hold up the S&P/ASX 200 — Australia’s main market-cap weighted index.