The European Price Of Ferrovanadium Rallies On Big Volume  Ferrovanadium is currently printing around 57.5USD/KG, rallying by 8USD/kg compared with last Friday and which is the highest it has been since April 2019. There are signs that sustained demand is returning as the price has been above 30USD/KG since March 2021. In addition, ferrovanadium is a tight market and in 2018 Bushveld Minerals multibagged as a result of a squeeze in the market that pushed the average prices as high as 127 USD/KG.

The European price of ferrovanadium skyrockets amid the overall raw material and container freight is increasing from the Russia-Ukraine conflict. Besides, the sanction against Russia from EU and US come one after another  during one week. And it is reported that about  nine banks have been put on sanction, they are Gazprombank, Alfa-Bank, Sberbank, Otkritie Bank, Sovcombank, VTB, Rosselkhozbank, Moscow Credit Bank (MKB) , Novikombank. However, according to Evraz, though it is not an easy time but as of now they are not in any sanction lists so they are able to fully operate our production and sales.  While, the overall market panic on vanadium remains to be strong and which drives the market again. On the other hand, with 20 per cent of the ferrovanadium market coming from Russia, a country that is now being heavily sanctioned, along with Bushveld ramping up production this year to between 4,200 metric tonnes of vanadium (mtV) and 4,400 mtV from 2021’s 3,592, it’s not unreasonable to believe that the market price will standby.