www.ferroalloynet.com: On the FerroAlloyNet 13th Vanadium Industry Summit, Yang Caifu,senior chief engineer of the Central Iron and Steel Research Institute mentioned that vanadium steel market may have a good chance in near future pushed by the “Emission Peak and Carbon Neutral”. In the first half of 2021, China produced 136.25 million tons rebar steel with a growth of 11.2% compared with that in 2020. However, the production dropped dramatically since July, which was 21.02 million tons in July, down by 12.5% compared with that 24.755 million tons in June. And the production cut down to 20.12 million tons in August and was decreased to 17.698 million tons in September, down by 16.1% YOY and 24.7% YOY respectively. The key reason for this production shrinking was that limited production of steel from “Emission Peak and Carbon Neutral”, which would have a greater impact on the application of China’s vanadium market especially for the domestic vanadium consumption. However, the total output of rebar steel remains at a relatively high level, and is currently slightly increased compared to the same period last year. And the total demand for the whole year should not have any improvement. The application of the production of high-strength rebar steel to China’s vanadium market still played a supporting role.
According to Dr. Yang Caifu, the monthly consumption of V2O5 in May decreased from 13,238 tons in May to 8,212 tons in September, a decrease of 37.97%; in particular, the production of vanadium-nitrogen alloys shrunk to 5,075 tons of V2O5 from 9,100 tons of V2O5, a fall of 44.26%. And in 2020 China consumed 71,300 MT vanadium in rebar steel and vanadium accounted 75.94% in the rebar steel market and only 2.24% vanadium was used in energy market.
With the goal of “Emission Peak and Carbon Neutral”, it may give a major opportunity for the development of vanadium steel. As we know China’s steel industry accounts for about 15% of the country’s total carbon emissions, and is the industry with the largest carbon emissions in the manufacturing industry. The task of carbon emission reduction is urgent and arduous. However, vanadium steel technology is an effective way to improve the quality of steel varieties and makes a significant contribution to achieving the goal of carbon reduction.
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