Investors looking to capitalize on the build-up of nuclear power don’t have to rely on uranium projects alone, as massive amounts of molybdenum will be needed for nuclear power reactors to strengthen the steel alloys used in their construction.
Molybdenum demand from steelmakers is set to decrease in the fourth quarter, due to imminent production cut backs by domestic steelmakers following sliding steel product prices over the past few months. In such a scenario, wither moly?
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.
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