Vanadium spot prices were significantly lower in April.
Vanadium market news: Vanadium prices face a turbulent 2019.
Vanadium company news – Tando Resources – Resource upgrade – High-grade component now stands at a huge 169Mt at 1.07% V2O5, the largest +1% V2O5 resource in the world.
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Welcome to Vanadium miners news. April saw China vanadium spot prices fall quite heavily to reach new yearly lows. The vanadium producers warn of lower profits due to the vanadium price fall, and AMG announces a share buyback. The vanadium juniors continue to progress well with several announcing significant resource upgrades.
Vanadium uses
Vanadium is traditionally used to harden steel. New Chinese rebar standards are requiring more vanadium. Also Vanadium Flow Batteries (VRFBs) are becoming increasingly popular, especially for commercial energy storage, most notably in China. Vanadium Pentoxide (V2O5) is used in VRFBs and Ferrovanadium (FeV) is used in the steel industry.
Vanadium demand versus supply
The charts below show energy storage to be a new source of vanadium demand, and overall demand looks likely to grow very strongly to 2025.
Roskill estimates that vanadium demand “for VRFB markets” could rise to 31,000 tons by 2025, amounting to a rise of 3,100% in a decade.
www.ferroalloynet.com
