[Molybdenum Market Price Update] SMM reported on July 23 that the molybdenum market remained generally stable today. Molybdenum mines set prices and increased output, while spot trading volume was low. Prices held up well. Today, SMM 45%-50% molybdenum concentrate closed at 2,990-4,020 yuan/mtu, unchanged from the previous trading day. The ferromolybdenum market continued to rise slowly, with ore prices fluctuating at highs. Ferromolybdenum plants faced significant cost pressure and were reluctant to sell at low prices, leading to an increase in quoted prices. Steel mill tenders remained robust but were mainly characterized by price-driving tenders. Today, the mainstream price of ferromolybdenum was 250,000-256,000 yuan/mt, unchanged from yesterday.