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Wall Street Daily reported that the price of molybdenum may be close to hitting bottom, meaning that the metal may present an opportunity for investors.
Wall Street Daily reported that the price of molybdenum may be close to hitting bottom, meaning that the metal may present an opportunity for investors.
As quoted in the market news:
One can trade molybdenum futures on the LME (London Metals Exchange) under the symbol MO, with each contract representing six metric tons.
Futures trade daily out to three months, weekly three to six months, and monthly seven to 15 months, and are quoted in U.S. dollars per metric ton, as well as in yen, pounds, and euros.
On the equity side, valuations and prices are trading at very depressed levels.
Investors should look for companies that have sizable deposits and that are potential low-cost producers. Some of the larger producers include Freeport-McMoRan (FCX), Glencore Plc (GLEN.L),BHP Billiton Limited (BHP), and Nevada Copper Corp.(NCU.TO).
Click here to read the full Wall Street Daily report.