Snuff, as long as V2O5 sticks to that level then they will be o.k., however not that long ago V2O5 was languishing in the area of $ 1.00 - 2.50 / lb for a long time.
Xsrtrata does not control the Vanadium market, however they are one of the bigger players.
I always ask myself this question - Why did Xstrata sell ?
And I must add, that vanadium originating from recyclable commodities ( spent catalysts, boiler residues, slags ) is growing and the Chinese absolutely love this type of material.
I am still not sure about PMA and remain open minded, although somewhat sceptical as well...
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