Strength in metal prices this year has some "Fast Money" traders believing commodities stocks have room to run.

While they settled barely higher Monday, gold futures have risen about 20 percent this year. Silver futures are up nearly 24 percent, while platinum has climbed about 18 percent.

"If you think gold is going higher, you play it with GDX," the VanEck Vectors Gold Miners ETF, contended trader Steve Grasso. The fund has climbed about 80 percent this year amid the metal's rally.

Copper, meanwhile, is down more than 2 percent this year but has pared losses recently. Trader Tim Seymour believes the metal's price can go higher, boosting Freeport-McMoRan and Southern Copper.

"These are names that to me are underowned," he said.

Freeport shares rose 6 percent Monday after an upgrade from analysts at Cowen & Co.

Disclosures:

Karen Finerman

Karen is long BAC, C, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, KORS long call spreads, M, MA, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International.

Steve Grasso

Steve is long BA, CC, DD, DIS, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX Steve's kids own EFA, EFG, EWJ, IJR, SPY

Pete Najarian

Long AAPL, BAC, BMY, CSCO, DIS, DISCA, GE, GS, KMI, KMI.A, KO, LUX, MRK, PEP, PFE, SAVE, TMUS, VIAB, ZIOP Long Calls: AAL, AGN, AKS, AMJ, COP, EGO, EWZ, HAL, HAIN, HBAN, JD, KATE, KBH, KMI, LC, LLY, MSFT, MT, NLNK, SLV, SVU, TCK, TEX, UAL, YHOO Long Puts: FCX, NOV, PBR, VLO

Tim Seymour

Tim Seymour is long AAPL, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, GLNCY, INTC, LQD, MCD, MPEL, NKE, RACE, RAI, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM, WYNN