India: Ferro vanadium prices climb up amid persistent supply shortage
Ferro vanadium (FeV 50%) prices in India surged by INR 27,800/t ($313/t) w-o-w to INR 1,144,000/t ($12,886/t) ex-Raipur. Prices increased following insufficient domestic material availability, driven by tight global supply and limited imports. Firm demand from the steel sector also added further upward pressure. Market participants expect prices to remain elevated unless supply conditions improve significantly in the near term.