The airline industry's fight for survival in the face of soaring oil prices has triggered a massive jump in the price of a number of obscure and scarce metals that are used to improve the fuel economy of jet engines.

Traders said demand for minor metals such as rhenium, chromium, cobalt and titanium was booming as Rolls-Royce, General Electric and Pratt & Whitney bought them for new super-alloys that helped cut aircraft fuel consumption.