Supply squeeze sparks 122% rally in little-known metal market

Indonesia Berita Berita

Supply squeeze sparks 122% rally in little-known metal market
Indonesia Berita Terbaru,Indonesia Berita utama

Molybdenum is now the world's hottest metal. markets metals mining

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Bloomberg Intelligence

The silver-gray metal is typically extracted as a by-product of copper mining by companies like Freeport-McMoRan Inc., Antofagasta Plc and Southern Copper Corp. Much higher molybdenum prices are buffering those companies from high costs and slightly lower copper prices. For Freeport, the top producer, a $5 change in molybdenum prices translates to $375 million in cash flow.

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