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

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Supply squeeze sparks 122% rally in little-known metal market
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Molybdenum is now the world's hottest metal. markets metals mining

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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