India: Ferro vanadium prices remain largely stable on muted trades
Indian ferro vanadium (FeV 50%) prices fell slightly by INR 3,000/t ($35/t) w-o-w to INR 1,071,000/t ($12,534/t) ex-Raipur. Despite stable prices, production cuts persist due to weak demand, subdued trades and rising costs. Increased bidding from special steel mills comes with lower prices, dampening sentiment. Meanwhile, Chinese vanadium pentoxide prices remain unchanged at RMB 85,000/t ($11,624/t) supported by balanced downstream demand.