Moly’s price plummet

Moly Investing News reports molybdenum prices have skyrocketed when the global spending on infrastructure took new heights.

High prices and demand caused copper miners who produced moly in secondary production to copper to turn their focus to that metal. At the same time, junior miners and big players began exploring for primary producing moly mines.

Over the spring and summer as the general base metal complex suffered huge losses, moly’s obscurity helped it hold its position.  Because purchase contracts for moly are few and far between, its price held steady at the last negotiated rate of $34/pound.