Vanadium Miners News For The Month Of February 2019
Date: Mar 1, 2019
Summary
Vanadium spot prices started to recover rising slightly in February.
Vanadium market news – Restarted vanadium producer tips ongoing price support.
Vanadium company news – Energy Fuels has commenced vanadium production.
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Welcome to Vanadium miners news. February saw China vanadium spot prices rise slightly after the roller coaster ride of the past 6 months. Vanadium producers reported stellar profits with Energy Fuels (UUUU) becoming a new vanadium producer, and the juniors continue to progress well.
Vanadium uses
Vanadium is traditionally used to harden steel. However Vanadium Flow Batteries [VRFBs] are becoming increasingly popular especially for commercial energy storage, most notably in China. Vanadium Pentoxide [V2O5] is used in VRFBs and Ferrovanadium [FeV] is used in the steel industry.
Vanadium spot price history
China Vanadium Pentoxide [V2O5] Flake 98{3a701354f219a57e7e7d46a505b70225e975b940de2dd07556e20488ab77339d} Price = USD 17.60/lb
China Ferrovanadium [FeV] 80{3a701354f219a57e7e7d46a505b70225e975b940de2dd07556e20488ab77339d} Price = USD 71.50/kg
Source: Vanadiumprice.com
Vanadium demand versus supply
The charts below show energy storage to be a new source of vanadium demand, and overall demand looks likely to grow very strongly to 2025.
Roskill estimates that vanadium demand for VRFB markets could rise to 31,000 tons by 2025, amounting to a rise of 3,100{3a701354f219a57e7e7d46a505b70225e975b940de2dd07556e20488ab77339d} in a decade.
