Today we are going to take a more detailed look on a most profitable venture that we can use to our advantage to make a metric ton of gold in a short time. This is going to be a viable option for a short term because it will catch on very quickly and people will start realizing that they can skip paying the extra gold for it, but anyways let me get down to the juicy, and profitable parts.
For this to work you need to have 2 characters, one of them needs to have alchemy, while the other one needs to have mining, or if you have those two professions on the same character then you don't need 2 characters.
As you can see on the image it all starts with Ghost Iron Ore. The way to get the ore is obvious, either mine it or AH, either way is OK but i would advise you to go for the AH approach simply because it's a short window of opportunity on this plan, and it is surely going to loose it's momentum in a short time when people get more informed. But anyways back to the point, when you get the ore you will need your miner to smelt the ore. If your miner is not high enough to smelt it don't worry, it takes about 10 min to run around the starting Pandaria zone and your miner will have the skill to smelt the bars.
Ok now you have Ghost Iron Bars in your bags, so what now ? Simple you can take one of the two possible roads, you can either sell the bars for profit on the AH or you can choose the take the further refinement of the bars. If you simply want to sell the bars on the AH that's good, as you will still make a near 50% profit on your ore investment, but if you want to continue on with the whole deal keep reading.
After you get the Ghost Iron Bars send them to your alchemist who will take them and transmute them into Trillium Bars. If your alchemist just trained up and all he got was two patterns don't worry, he isn't bugged it's the way the new system works for Alchemy, you will need to make about 20-40 potions and the patterns will be revealed that way. So keep making those potions until the transmutation for Trillium Bar is revealed.
After you have the transmutation available start making some Trillium Bars and selling them on the Auction House. As you can see on the image on the right i am making a good deal of profit on each bar, and the price for one Trillium bar is 10xGhost Iron Bars which in turn is one stack of ore. Just as a comparison, i bought the Ore from the AH for 75g per stack and sold them as Trillium Bars for 280g. That is 300%+ profit on that investment, and the best thing about it is that you don't really spend anything, as this transmutation doesn't waste your daily CD that you can use for the last step. Oh and just so i don't forget to mention, you can get extra bars if you are a transmutation master and your transmutations proc as you can see on the image below.
And the last part of this plan is to take the Trillium Bars and use your Alchemist once more and use his daily CD to make 6 Trillium Bars into a Living Steel. The Living Steel is the new hot cake when it comes to crafting armor, so the demand for it is going to be high for a while, and if you are a transmutation master you have the chance to proc on it as well.
So in short that is the way to go with the early on MoP metal trading, and no matter which route you choose to go know that the profit will be there, but if you have the ability then take on the three markets so you don't miss out on any of the possible profits.
One last thing before i leave though, if you choose to sell the Trillium Bars know that the best time to put them on the AH is right before midnight ( that is when the CD for the Living Steel is reset ), because that is when people want to buy it the most. In the mind of the casual player it's "6 trillium bars for nearly 300 each is 1800 and the living steel is 2500, awesome i'll buy some" And that is how we get a hefty profit.