- Raw material costs strengthen supplier pricing power
- Steel mills maintain cautious procurement amid weak demand
Indian ferro vanadium prices remained largely stable, rising slightly in the week ended 8 July 2026 by INR 11,000/t ($116/t) w-o-w to INR 1,340,000/t ($14,096/t) ex-works Raipur, supported by higher raw material costs, firm supplier offers, and limited spot availability, while cautious steel mill procurement restrained sharper gains.
Factors affecting prices
Raw material costs strengthen supplier pricing power
Higher vanadium flake prices continued to support ferro vanadium offers, with producers facing elevated replacement costs and maintaining firm quotations instead of offering discounts. Limited availability of low-priced raw materials further tightened spot supply, encouraging suppliers to hold prices despite moderate transaction volumes. Domestic sellers largely focused on protecting margins as production costs remained elevated.
A Raipur-based seller told BigMint, “Higher vanadium flake procurement costs have left little room for discounts, so we are maintaining firm offers despite moderate demand.”
Steel mills maintain cautious procurement
Steel mills largely continued need-based procurement, with July alloy tenders reflecting cautious buying amid subdued construction steel demand. Seasonal monsoon disruptions slowed construction activity, limiting fresh rebar demand and reducing urgency for alloy purchases. While raw material costs provided a strong price floor, muted downstream demand prevented a sharper rise in ferro vanadium prices, resulting in only a modest weekly increase.
Outlook
Indian ferro vanadium prices are expected to remain firm, supported by raw material costs, while cautious steel mill buying limits upside.
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