What happened Shares of steelmaker United States Steel (NYSE: X) are 6% higher today, as of 1:15 p.m. EST, after a 10% jump earlier in the day. The stock has been on a remarkable run since the beginning of October, with shares more than doubling. X data by YCharts So what The recent run began after rival Cleveland-Cliffs (NYSE: CLF) made a surprising acquisition at the end of September, announcing it acquired ArcelorMittal USA, the U.S. assets of global steelmaker ArcelorMittal (NYSE: MT). Image source: Getty Images. The acquisition added to industry consolidation that Cleveland-Cliffs began when it bought AK Steel earlier in 2020. Now what Consolidation in the industry will likely benefit U.S. Steel and other domestic steelmakers. But investors are also sensing that the Biden administration may contribute to a resurgence in the steel market from ramped up spending on infrastructure repair. President-elect Joe Biden has said he plans to add "millions of construction, skilled trades, and engineering workers to build a new American infrastructure and clean energy economy." A boon in renewable energy may sound like it would be unsympathetic to the steel industry. But any infrastructure project will need a huge volume of steel supply. Solar panel fields and wind farms specifically require steel sheet, plate, and connectors. If the new administration increases spending to upgrade highways, roads, and bridges, and also spurs the construction of renewable energy projects, the domestic steel industry will be a big winner. Investors are catching on to that, and the stocks of suppliers like U.S. Steel are getting renewed interest as those projects come closer to fruition. 10 stocks we like better than United States SteelWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and United States Steel wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source