According to a major vanadium maker, it seems like the international market price of vanadium is changing steadily according to the supply and demand of the market.
Although the suppliers of vanadium in the world are only from China, Russia, South Africa, and Brazil, the problem between Russia and Ukraine has broken out in the beginning of March. Since the supply of vanadium slag from Russia was stopped, there was a concern of sudden rise of vanadium market price.
However, it actually reduced since China purchased the vanadium slag from Russia and the national manufacture of vanadium products such as FeV got popular. From the beginning of March to the middle of April, there was a gentle drop of market prices going on as the following:
The market price of vanadium pentoxide switched from USD10.72/lb to USD10.325/lb, and the market price of ferro vanadium changed from USD62/lb to USD54.5/lb.
Yet, it’s also reported that the supply of vanadium slag from Russia to European countries is on hold. It seems like we should keep our eyes on the latest supply-demand balance in the vanadium market.