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This year's worst commodity is also least known

New York

AN obscure metal used to make steel has become this year's worst-performing commodity, after China's stumbling economy and a collapse in the energy industry drove outsized losses.

Molybdenum - that's mo-lyb-de-num for the uninitiated - is used in many steel building materials and to help harden the drills used to extract oil and natural gas from deep underground.

Prices plunged 49 per cent, the most among 79 raw materials tracked by Bloomberg, as the white metal was undermined by the flagging...

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