TNG secures mineral leases for Mount Peake, opens door to pursue financing, page-43

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0	22 November 2018	New record high for vanadium in EuropeMetal Bulletin reports that continued supply tightness lead European vanadium prices to new record highs. European Ferro-Vanadium price went up to $126-128 per kg, a record high according to Fastmarkets’ historical data going back to 1997. “There is hardly anything... available in the spot market, and those that have material are few in number. Options are quite limited if you need material,” a supplier source stated. In China, prices were even higher at $130-140 per kg and have remained stable for the fifth consecutive week as the overseas market is catching up. A new government policy implemented on November 1st requires steel mills to increase their use of Ferro-vanadium in rebars has so far driven less demand than expected. This is due to annual maintenance on furnaces in early November as well as some steelmakers having not yet implemented the policy strictly. “I heard that some mills had not increased their use of ferro-vanadium in the rebar-making process for the sake of saving costs, but I do not think this is a healthy way to develop as they might [lose] more once [that is] detected by the relevant watchdog,” a source said. In the US, prices tracked the global markets as ferro-vanadium increased to $55.5-57 per lb. “There is not a lot going on with vanadium in the spot market at this point. The market has really slowed down, but prices haven’t,” a supplier source said. “Only a few guys have anything to offer out, so you still have to pay up if you need it.”

From TNG website