Shanghai-listed Air conditioner manufacturer Kingair Machinery plans to switch its focus to molybdenum mining by swapping assets with an Inner Mongolian molybdenum miner.
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Nuclear medicine experts recommend building new molybdenum reactors to ensure that Canada doesn’t repeat last year’s mistakes and risk the global supply of medical isotopes.
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Many investors are giving molybdenum the title “The New Uranium”, which is a hint at the profit potential that a savvy investor can make on the moly market. If you look at moly’s past- it is known to hit high highs and low lows, at the drop of a hat. In fact, the past 15 years have seen moly prices oscillate from $1.82 per lb to $40.00 per lb.
As per CPM group, Global supply deficits of molybdenum will increase in 2009 and 2010.
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Thompson Creek Metals Company Inc. shares moved higher after CNBC’s Jim Cramer recommended the stock on the basis that there is a shortage of worldwide supply of molybdenum and the company is well poised to take advantage of rising molybdenum prices.
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The biggest news on the molybdenum market this week comes by the way of expansions, discoveries, and new constructions in the industry. This news is good news, as the market has plenty of room for more players.
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Wednesday, July 30, 2008