[SMM Molybdenum Daily Review: Cautious Spot Market Trading, Molybdenum Prices Continue to Decline] Ferro-Molybdenum Market: Following a significant decline in ferro-molybdenum tender prices over the past two days, inquiries in the ferro-molybdenum spot market have increased. However, due to the high costs faced by ferro-molybdenum smelters, suppliers have limited room for price concessions, resulting in a mismatch between transaction volumes and inquiry levels. Currently, ferro-molybdenum spot transaction prices have been adjusted to around 230,000 yuan/mt. Some producers are encountering significant resistance when securing molybdenum concentrate prices corresponding to ferro-molybdenum shipment prices, and production halts are expected to be implemented. Molybdenum Chemical Market: The recent continuous decline in molybdenum prices has indeed stimulated inquiries in the molybdenum chemical market, but buyers' restocking intentions remain weak, with a strong wait-and-see sentiment. Producers expect prices to decrease, and some companies plan to halt production.