India: Ferro vanadium prices remain rangebound on muted demand

Indian ferro vanadium (FeV 50%) prices fell by INR 1,800/t ($20/t) w-o-w to INR 1,131,200/t ($12,600/t) ex-Raipur on 24 Dec’25, though the market remained stable. The marginal correction was due to muted special steel demand and cautious year-end procurement. Chinese vanadium pentoxide prices stayed largely stable, limiting any volatility. Market participants expect a stable price trajectory on controlled supply and potential post-holiday restocking.