Date: Nov 2, 2018
It has been an exciting year so far for vanadium, as the industrial metal used as an alloy in steel manufacturing has seen an uptick in demand thanks to its increased use in the energy storage sector.
Vanadium flake, which is used to make vanadium redox flow batteries, started the year selling at roughly US$15 per pound, and has steadily climbed over 10-months to US$33.90 where it sits today (November 1).
Ferro vanadium, the type used to make steel stronger and more durable, has also experienced steady growth throughout 2018, thanks in part to new rebar guidelines in China, which call for increased vanadium levels. Sitting at just above US$60.00 a kilogram in January, ferro vanadium has grown by 139.17 percent to US$143.5.
The meteoric rise of the silvery-grey metal has piqued the interest of analysts and investors who see the value in a battery metal that is safer, longer-lasting and more durable than lithium.
Once considered a mere byproduct of uranium mining, in recent months the market has seen a renewed focus and respect for the industrial metal with a lot of battery potential. So much so that vanadium projects that were shuttered due to low market prices are slowly coming back online.
The race to vanadium production in North America will be particularly interesting to watch.
Here, the Investing News Network has compiled a list of the top performing vanadium stocks listed on the TSX and the TSXV with year-to-date gains. All companies listed had market caps of at least $10 million at the time of publication. All year-to-date and share price information was obtained on November 1 from TradingView.
