The National Bureau of Statistics releases the PIM of the April, which remains unchanged month to month. Some experts predict that domestic economy may be stablized at the bottom, but the downward pressure is still important.

　　The supply and demand relation is still the key element, and the development of domestic molybdenum industry is still dictated by the demand and application. As we all knows, the main application is used by steel industry, but the latter performance is underachieving, which influences molybdenum market greatly.

　　Sources say that a steel mill at Zhejiang has not hold tender on ferromoly for two month because of the obvious slipping demand on molybdenum and piled stocks. At the moment the steel inventory is still plenty, and the short-term demand is still under pressure.

　　Other steel mills at Jiangzhe, Shandong, Tianjin and Hebei, etc all reduce the demand on molybdenum, which is the main reason for the decrease in price.

　　The fluctuation of international molybdenum market is still fast, and may be faster in May. At the present, the downward trend of the oversee market is unlikely to change. The market may look for balance to release its pressure. Beside the maket itself, the influence from China hold more and more weight. And in a comparatively-long period, the price at home and abroad will fluctuate at the level which is impossible for export and import.

　　Early this month, the domestic molybdenum market is relatively quite, with an atmosphere of strong hesitation. Some major steel mills begin their inquiries, which may open a new round of gamble. The steel mill may push down the price again, and make it harder for molybdenum market.

　　The resource tax will be levied by price since May, and the market at home and aboard will need a period of adjustment for a supporting point.

　　In the first month after the revocation of export tax, the market may be busy looking for a supporting point rather than trade as ususal.

　　In the first month after the reformation of resource tax, some mines will see cost rising. And the coming controversy is going to be "who is going to pay the bill", and mines are likely to hand the bill to the market.

　　Of course, the critical point of the tendency is still supply and demand. At the moment, demand will dictate the fluctuation then, and the tender from steel mills and other end-users will be the key indicator.