Yes, that's what I recall too. So probably the steel demand drops away if the price exceeds US$15/lb, so market forces will tend to curb any tendency for it to go into the >US$15/lb range. But it could still go there if demand from the VRFB market was sustained.
Bottom line is demand for Vanadium is only increasing with time, and production is only slowly catching up.
All IMHO, DYOR
News: AVL Australian Vanadium Signs A Joint Co-Operation Agreement With Mid West Ports Authority, page-7
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