June has approached its end. Though El Nino makes the summer hotter, but the situation of molybdenum market makes the heart of participants cold. As the "winter" of steel market is going to last a long time, the tender from steelmakers further push down the price of ferromoly.

　　Last week, moly market both at home and abroad falls due to weak demand and pressure from enterprises, etc. The support for price is greatly seriously in trouble, and the confidence is running off all around.

　　The domestic inquiries behaves alright last week with a few deals concluded slowly, especially the moly concentrate. However, a steel mill accepts a tender with lower price week to week, forcing the general ferromoly market down again. Now, the main offer of moly concentrate is about 1000-1040 RMB/mtu, and ferromoly 71000-73000 RMB/mt, and the actual concluding price is at the lower range.

　　The international market is also pessimistic, and the price continues to fall after breaking $7/lb level with few deals concluded. According to sources, the confidence of participants is greatly shaken, and most traders choose position of wait-and-see.

　　After the dragon boat festival, the domestic moly market enjoys the peace at the surface. Influenced by the downward pressure from ferromoly market, the downstream replenishment is going slow again. As the end of the month approach, participants may actively offer materials, which push down the price futher.

　　After breading the $7/lb price level, the international market experience a small scale panic, which starts to spread to other sectors. At present, the decline of international moly market experience acceleration, breaking historical record low, or forming a stalemate situation. As the market looking for new breaking point, the lack of demand still dictate the general trend, which may do little good after all.

　　One of the great factor influencing the moly market is pressure from steel market. Under the general economy of oversupply, the demand and supply relation of molydenum losts its balance. The falling of price can hardly stop. Therefore, the price at home and abroad may experience adjustment further, with little positive reverse seen then.