Molybdenum and cobalt have not performed as great as normal and the other metals rocketed while cobalt and Moly were in hiding. Moly a year ago was trading at 8.5x the price of copper, now it’s only 3.5x the cost. Moly to nickel was at 2.6x, now at 1.4x. At molybdenum‘s hit the highest point in 2005, it was trading at a price 28 times that of copper.
But, Moly and cobalt are going to have a prospect, and that future comes next month when the London Metal Exchange launches the first ever futures market for these overlooked minerals.
These minerals have been priced too low compared to those already traded in the futures market. The added sauce to the coming Moly cobalt price rush will be the speculators. Copper, nickel, aluminium have all been climbing despite big run ups in stores.