Vanadium prices are soaring in China and also in Europe. In the past month alone the Chinese vanadium spot price has risen from US$20/lb to US$33/lb. The strong vanadium demand in China, in anticipation of the new rebar regulation coming into force in November this year, is accelerating the recent price increase.
Stockpiling by Chinese’s domestic consumers and rebar mills are also contributing to the transaction price increases. Another factor that pushed vanadium prices to new highs is low inventories. There is also concern about the ongoing supply/demand squeeze with no easing of the situation in the near future.
Exporters are now preferring to sell in their domestic market owing to a more favorable market price as the overseas market lags behind. Vanadium is mostly produced as a by-product of steel making, hence a slowdown in the steel making industry can slow vanadium production.
Global vanadium production may struggle to meet forecast rising strong demand
Global vanadium production may struggle to meet forecast rising strong demand
