VanadiumCorp applauds China’s new rebar standard and increasing demand for new applications
| Date: Feb 28, 2018 |
| VanadiumCorp Resource Inc. (TSX-V: “VRB”) is pleased to announce its support for the new rebar standard announced February 9, 2018 by the Standardization Administration for the People’s Republic of China. This announcement also includes a special action to cut down on the use of all substandard steels in China. The new rebar standard, and related action, is expected to be implemented by November 2018.
VanadiumCorp Resource Inc. (CNW Group/VanadiumCorp Resource Inc.) Adriaan Bakker, Chief Executive Officer of VanadiumCorp stated: “The revised rebar standard bodes well for long-term vanadium demand and pricing that has already outperformed the energy metals lithium and cobalt, combined, over the past three years. VanadiumCorp is positioned well to establish new supply streams with its disruptive green-process technology jointly developed with Electrochem Technologies and Materials Inc.” According to the Metal Bulletin, vanadium pricing has soared greater than 550% over the past three years. The price range for vanadium pentoxide has continued to strengthen this month, trading as high as US$13.50/lb. Tightened supply is a recurrent issue as vanadium pentoxide production is tailored to the steel industry, and vanadium producers are not financially motivated to develop processes for optimized, low-cost production of electrolytes required by vanadium redox flow batteries (VRFB). Stricter steel regulations in China, increasing use in steel alloys, and new applications such as robotics, supercomputers, and sustainable vanadium-based energy storage technologies are underpinning continued increase in demand, unsustainable without new supplies. High-strength low-alloy vanadium steels are the most efficient material available for the continued development of worldwide infrastructure. The new rebar standard will enhance the quality of rebar, allowing China to build earthquake-resistant homes and mitigate costs throughout the entire supply chain. |
