U.S. steel stocks rallied sharply on Wednesday as investors bet that a Commerce Dept. hearing on Wednesday will determine that certain steel imports pose a threat to national security and that foreign steel's flow into the country will slow.

U.S. Steel X, AK Steel AKS, Reliance Steel RS, Timken Steel TMST, Steel Dynamics (STLD) - Get Report and Olympic Steel (ZEUS) - Get Report all rose between 2% and 7% on Tuesday.

Last month U.S. Commerce Secretary Wilbur Ross said that the results of an investigation he launched would determine if Chinese and other foreign-made steel poses a threat to U.S. national security.

In April President Trump signed an executive order calling for a look at steel imports and any threats foreign steel amplified for the U.S. 

At that announcement, Ross said 26% of the steel America uses comes into the country at unfairly low prices.

Read More Trending Articles: