Vanadium Spot Price Rebounds to US$ 47-48/kg

The market price of vanadium rebounded, which is used as additives for high-tensile steels. The spot price rose to US$ 47-48 per kilogram of vanadium from above US$ 30 at the end of January, according to the source of trading house. Suppliers are raising their selling prices under the tight supply to adjust the market price which had decreased much. Some suppliers even offer US$ 50 and the market price is expected to rise up more.Demand is firm and supply maintains tight for high-tensile steels, when automobile production and energy development are active. Supply and demand balance is unchanged, while suppliers turned to raise their spot selling prices after they secured most orders for a year at the renewal of annual contracts toward the beginning of 2006. The spot price is likely to increase to US$ 50-60 per kilogram of vanadium with tight supply, while which is unlikely to exceed US$ 100 as last year.