While gold remains under pressure from a strong dollar, producers of industrial metals like copper and steel are beginning to show signs of perking up. Booming demand from alternate energy applications is the big driver here.

Elsewhere, the global titanium supply crunch continues with no immediate relief in sight.

In the trading portfolio, two new positions are recommended, including a major steel producer and a titanium market player.

The experience for base and precious metals investors since March, when most metals peaked, has been something akin to Chinese water torture. To be sure, there have been periodic opportunities in select metals (and related industries) along the way. But the main trajectory for the sector has been steadily lower most of this year.

Shares of steel producers plunged on Wednesday after Nucor (NUE) said it expects third-quarter earnings to come in under Wall Street’s estimates.