Charlotte Named Top Metro Area in CNBC 2025 Power City Index, Driven by Lithium and Steel Stocks

This analysis is based on the CNBC report [1] published on January 2, 2026, which ranked Charlotte as the top metro area in the 2025 Power City Index (PCI). The PCI methodology tracks 11-12 largest market cap companies by headquarters location (S&P CapitalIQ) in 36 metro areas, using median returns to rank cities. Charlotte’s top-performing stocks were Albemarle (ALB), a lithium producer with a 63.63% return, and Nucor (NUE), a steel manufacturer with a 38.46% return. These returns outshined AI stocks, as confirmed by the BOTZ ETF (an AI proxy) returning only 12.24% in 2025 [0]. Charlotte’s traditional financial sector (including Bank of America and Truist) also contributed to its strong performance, but the lithium and steel stocks were the primary drivers [1].

1. Lithium and steel sectors outperformed AI in 2025, reversing prior years’ AI dominance.
2. Charlotte’s economic diversity, combining traditional finance with commodity-related stocks, contributed to its top PCI ranking.
3. The PCI’s median return methodology highlights the impact of high-performing local companies on metro area rankings.

• Risks
  : Commodity stocks like ALB and NUE are subject to price volatility due to market demand and supply chain factors. Charlotte’s ranking could be impacted by future commodity price fluctuations.
• Opportunities
  : The strong performance of lithium (a key component in EV batteries) and steel (infrastructure and manufacturing) suggests ongoing demand for these materials, which may present opportunities for related companies.

Charlotte ranked first in CNBC’s 2025 Power City Index with top returns from Albemarle (63.63%) and Nucor (38.46%), which outperformed AI stocks (BOTZ: 12.24%). The PCI tracks median returns of 11-12 largest local companies in 36 metro areas. Charlotte’s economic diversity, including finance and commodity sectors, drove its performance. Commodity price volatility remains a risk, while lithium and steel demand present potential opportunities.