Molybdenum exploration has been on a fast track this year, as a shortage in supply and an increase in demand have pushed prices of the alloying metal up and up. Until recently, moly has held stable despite all the challenges on Wall Street.
A fluctuating greenback coupled with fears of a global recession has sent many of the metals on a tailspin. In just the past few months, the spot prices for base metals copper, zinc, and nickel are down 12%, 30%, and 42% respectively.
When investors first turn to metals to diversify their portfolio, they usually stick to the classic metals- silver, gold, and copper. The exotic metals- molybdenum, uranium, and tungsten are a rare first approach.
Molybdenum has been on a positive trend this year, with shrinking supply, and growth in applications extending support. With a deficit of moly expected over the next few years, exploration activities are on a fast track. If you look at the three month trend on moly, the metal has been quite stable.
As per CPM group, Global supply deficits of molybdenum will increase in 2009 and 2010. Click here for full story
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