India: FeMo, FeV stable on low demand

摘要

Indian ferro-vanadium and ferro-molybdenum prices have held steady this week on limited spot demand, with sellers raising concerns about the potential impact of rising Covid-19 infections on demand in the near-term. Prices for 60pc grade molybdenum alloy were assessed flat today at Rs1,230-1,240/kg ex-works, amid muted spot demand as steel mills with adequate stocks for this month delay further purchases. Uncertainty about Covid-19 and the possibility of a second wave hitting India's downstream demand have dampened buying interest. Demand from the automotive sector remains subdued and lockdown restrictions could further subdue buying interest for passenger vehicles, particularly during the festival period, market participants said.