Dec 20th, 2019 ***** Analysts review of V deficit

***** full report on ALL battery metals:

Featuring views and opinions written by market professionals, not staff journalists.

ttps://www.*****.com/commentaries/2019-12-20/Clean-energy-might-be-the-future-but-there-is-no-game-plan-how-the-PGMs-stand-to-break-out.html


Extracted from above report:

• Vanadium: V is primarily used in the production of steel today. Over 90% of the V mined is used for steel production. Another 4% of V is applied to titanium production, 4% to chemical applications and only 2% is applied to Lithium battery technologies today. With the projected BEV forecast, those ratios will change dramatically.

The following are two available analyst views of the supply and demand fundamentals for Vanadium. The market balance in both shows a structural deficit starting 2016.

Source: Caelot Ferroalloys Inc., Vanitec