Source: www.marketwatch.com
Rising applications for vanadium specifically in electric storage batteries continue to drive metal prices even as traditional battery metals such as cobalt and lithium have cooled off in recent months. Although lithium is currently the metal of choice for powering electric vehicles, vanadium could become its counterpart for powering large stationary batteries used in utilities such as wind and solar farms. Vanadium is also seeing increasing demand in its traditional steel hardening applications as China’s new regulations require a doubling of vanadium content in the steel used for high-rise constructions and other applications. To capture this increasing opportunity in vanadium amid rising prices, many resource companies are reopening their vanadium mines in search for new resource deposits.
