vanadium - the critical element, page-3

Global Vanadium Trends (From the Evraz presentation)
 Vanadium expected to perform better than steel as vanadium usage rates in the emerging markets? steel production sector approach the levels of industrially developed countries
 Increased use of higher strength steels in high-growth Asian markets that should result in higher consumption of ferro-vanadium
 The outlook for the vanadium market is positive with ongoing global urbanisation resulting in increasing demand and higher expected prices
 Continued interest in development of vanadium redox batteries could stimulate demand for vanadium pentoxide
 Supply and demand are in balance with the market back to the high end of the scale and production at capacity
 Prices are currently stable at $31 kg/V with indications of improving