United Battery Metals Provides Vanadium Commodity Update
Date: Oct 30, 2018
United Battery Metals Corp. (CSE: UBM, OTC PINK: UBMCF, FWB: 0UL) (“United Battery Metals” or the “Company”) is pleased to provide the following commodities update regarding the vanadium market.
During 2018, the vanadium spot price has risen from $10 (U.S.) per pound up to approximately $30 (U.S.) per pound, making vanadium the highest performing among the battery metals sector. Numerous factors such as the Chinese implementation of new building code requirements, which increases the need for high-strength steel, have led to this increase. China, the world’s largest vanadium producer, has now become a net importer of vanadium. Although the majority of global vanadium output is currently used in strengthening steel, many experts predict that the deployment of vanadium flow batteries (VFB’s) in large-scale energy storage applications over the next five years will significantly increase the demand for vanadium.
