Viewpoint: V demand to grow robustly in 2021

摘要

Growing interest from the battery sector is expected to bolster demand for vanadium in high pressure forms this year, potentially lending support to a tightly-balanced market with producers sold out until early February and global steel production remaining robust. Prices spent much of last year under pressure, in part owing to low Chinese spot buying activity. European ferrovanadium prices hit a 2020 low of $22.10/kg dp Rotterdam on 10 September after a steady decline from $30.50/kg on 10 December 2019. Vanadium pentoxide has declined more sharply, slumping to $4.60/lb dp Rotterdam on 5 November compared with $7/lb on 14 April.