India: Ferro vanadium prices diminish w-o-w on need based purchases
Indian ferro vanadium (FeV 50%) prices continued its downward trend by INR 8,300/t ($98/t) w-o-w to INR 1,090,700/t ($12,842/t) exw-Raipur. Due to weak downstream demand, buyers were hesitant to accept higher quotes prices, resulting in low activity, need-based procurements and insufficient transactions. Manufacturers push the market due to cost concerns, but overall market conditions remained subdued, with both supply and demand in a wait-and-see phase.