/biz/ - Business & Finance

>>56139064
not quite a monopoly but they buy a lot of it for the steel industry, as well as for a lot of lubrication purposes. Japan buys a lot of it as well for its steel industry as well, but not as much as they did 10 years ago. The markets for moly tanked after the US lowered trade tariffs on a bunch of metal concentrates a long ways back, the market swings wildly now depending on demand. Moly comes from dozens of copper mines as byproduct, so it usually ends up in massive barrel farms until the market demands 50 million pounds out of no where. There are also a few dozen mega scale mines sitting in the ground right now as moly prices are just to low the last few decades to make mining it viable. I know two mountains made of the stuff south of Houston BC, and another up by Kemess, no ones been interested in moly until earlier this year when the markets went nuts, then cooled out again.