In commodity market terminology, Molybdenum refers to a minor metal with the sixth-highest melting point of any element. Molybdenum is used primarily in high-strength steel alloys and in high-temperature and high-pressure applications such as catalysts and pigments.
Molybdenum futures were recently launched by the London Metals Exchange or LME. Contracts are for a lot size of 6 tons of Molybdenum delivered in 10 tons of roasted Molybdenum concentrates or RMC. Contracts are quoted in U.S. Dollars per ton.