The world’s mines and steel plants got so devalued during the commodity slump that some were just given away by owners struggling to cut losses or debt. But there’s at least one metal that’s been attracting a lot of attention.
Niobium -- named for a Greek goddess who became a symbol of the tragic mourning mother -- is used to produce stronger, lighter steel for industrial pipes and aircraft parts. It is mined in only three places on Earth, and the price of every kilogram is seven times higher than copper.
Niobium is hard to find and hard to value. More than 80 percent of global supply comes from one company and almost all the metal comes from just three mines in Brazil and Canada allowing dominant producer to match supply to demand and influence prices. Still, prices fell last year because of the weak demand for steel.
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