India: Ferro vanadium prices drop by $94/t w-o-w amid persistent dull demand
Indian ferro vanadium (FeV 50%) prices declined by INR 8,000/t ($94/t) w-o-w to INR 1,099,000/t ($12,955/t) exw-Raipur. Market activity remained subdued, with weak transactions driven by sluggish special steel demand. Traders were cautious with their purchases, resulting in low trading volumes. Manufacturers struggled to reduce prices, and both supply and demand sides adopted a wait-and-watch approach, contributing to a market slowdown.