Vanadium Industry Annual Report 2023
2024-02-08 19:55:14 【Print】
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Contents
1. Definition, Type, Distribution, Applications 4
1.1 Definition 4
1.2 Type 4
1.2.1 Types of Minerals 4
1.2.2 Types of Products 4
1.3 Distribution 4
1.3.1 Distribution of Minerals 4
1.3.2 Distribution of Products 4
1.4 Applications 5
1.4.1 Application of Major Vanadium Minerals by Capacity 5
1.4.2 Application of Vanadium Products by Capacity 5
2. Economy and Policy 5
2.1 IMF: China would account for a quarter of global economic growth in 2023 5
2.2 23 provinces set a GDP growth target of up to 9.5% this year 5
2.3 The average value of global manufacturing PMI in 2022 stays at 51.8% 6
2.4 Central Bank: RMB loans increased by 4.9 trillion yuan in January 6
2.5 Central Bank: RMB loans increased by 4.9 trillion yuan in January 6
2.6 The full recovery of China's manufacturing has become a stabilizer for world economic recovery 6
2.7 China's import and export volume brakes RMB40 trillion for the first time and remains the world's largest for 6 consecutive years 6
2.8 Foreign media: China's GDP growth target in 2023 demonstrates the revival of economic confidence 6
2.9 OECD: China's economic recovery on track 6
2.10 In the first two months, China absorbed RMB268.44 billion of foreign investment 6
2.11 Russian Defense Ministry: Production of some ammunition will increase by 6-7 times before the end of the year 6
2.12 China's loans increase sharply in the first quarter 6
2.13 China's foreign trade import and export increases by 4.8% YoY in the first quarter of 2023 6
2.14 China's GDP in the first quarter surges by 4.5% YoY 6
2.15 National Bureau of Statistics: From January to March, the profits of industrial enterprises falls by 21.4% YoY 6
2.16 1.48 million tax-related business entities newly established in April 7
2.17 The UN forecasts that the world economy would grow by 2.3% in 2023 7
2.18 State Administration of Taxation: From January to April, China added RMB468.9 billion in tax and fee reductions and tax rebate deferred fees 7
2.19 China's manufacturing sentiment hits a five-month low 7
2.20 China's manufacturing sentiment hits a five-month low 7
2.21 National Bureau of Statistics: CPI rose by 0.2% YoY and PPI fell by 4.6% YoY in May 7
2.22 General Administration of Customs: The total value of China's import and export in the first five months stays at RMB16.77 trillion 7
2.23 China's PMI maintains a recovery trend 7
2.24 Bank of China Research Institute: GDP would grow by 4.9% in the third quarter and 5.4% for the whole year 7
2.25 The total value of imports and exports in the first half of this year increases to RMB20 trillion for the first time 7
2.26 China's GDP grew by 5.5% YoY in the first half of this year and 6.3% in the second quarter 7
2.27 In the first half of the year, China's cross-border e-commerce imports and exports increased by 16% YoY 7
2.28 Both RMB loans and social financing declined in July 7
2.29 Ministry of Commerce: From January to July, China's outbound investment continued to grow 8
2.30 National Bureau of Statistics: From January to July, the profits of national industrial enterprises fell by 15.5% 8
2.31 National Bureau of Statistics: PMI index rises steadily in August 8
2.32 National Bureau of Statistics: PMI index rises steadily in August 8
2.33 National Bureau of Statistics: CPI increases by 0.1% YoY in August and 0.3% MoM 8
2.34 NBS: Industrial added value increases by 4.5% YOY and 0.5% MOM in Aug 8
2.35 NBS: Crude iron ore production increases by 1.3% YOY with cumulative increase of 7% 8
2.36 NBS: National industrial producer price index (PPI) decreases by 2.5% YOY and up by 0.4% MOM in Sep 8
2.37 NBS: National industrial producer price index (PPI) narrows for three consecutive months, rising by 0.4% MOM 8
2.38 NBS: National real estate development investment falls by 9.1% YOY in Jan-Sep 8
2.39 China launches third round of central environmental inspections 8
3. Market Movements 8
3.1 Domestic Market 8
3.1.1 Ammonium Metavanadate 98%min EXW China 8
3.1.2 Vanadium pentoxide powder 98%min EXW China 9
3.1.3 Vanadium pentoxide powder 99%min EXW China 10
3.1.4 Vanadium pentoxide powder 99.5%min EXW China 11
3.1.5 Vanadium pentoxide flake 98%min EXW China 12
3.1.6 Ferrovanadium 50%min delivered China 13
3.1.7 Vanadium nitride N14%min V77%min delivered China 14
3.2 Import Market 14
3.2.1 Ferrovanadium 50%min CIF China 14
3.2.2 Ferrovanadium 50%min in port China 15
3.2.3 Vanadium pentoxide flake 92%min CIF China 16
3.2.4 Vanadium pentoxide flake 92%min in port China 17
3.2.5 Vanadium pentoxide flake 98%min CIF China 18
3.2.6 Vanadium pentoxide flake 98%min in port China 19
3.3 International Market 20
3.3.1 Ferrovanadium 80%min in warehouse Rotterdam 20
3.3.2 Vanadium pentoxide flake 98%min in warehouse Rotterdam 21
3.3.3 Ferrovanadium 80%min in warehouse Pittsburgh 21
3.3.4 Ferrovanadium 50%min in warehouse Russia 22
4. Company News 23
4.1 Largo's vanadium pentoxide sales reach above 11kt 23
4.2 Neometals confirms 19.1Mlbs vanadium pentoxide production at vanadium recovery project 23
4.3 Hengjiu Antai: All-vanadium energy storage battery project Phase I may complete construction by end of 2023 23
4.4 Largo expects 2023 vanadium pentoxide production up to 12kt 24
4.5 JISCO smelting and rolling plant announces bidding result for vanadium nitride 24
4.6 Haili Group obtains two exploration rights of Asia's largest vanadium mine for free 24
4.7 Sichuan issues guideline for high-quality development of vanadium-titanium steel and rare earth industries 24
4.8 District Metals applies for license to explore 23.6Mt V-U-Mo-Ni-Cu-Zn deposit 24
4.9 Pangang Group Vanadium & Titanium and other two parties to build whole industry chain of VRB energy storage in Panzhihua 24
4.10 Pangang Group Vanadium & Titanium accelerates 60ktpy molten-salt rutile titanium dioxide project progress 24
4.11 Wusteel stage two vanadium nitride project goes into construction 24
4.12 Huihong Mining carries out construction of over 3ktpa vanadium pentoxide production line 25
4.13 Energy Fuels: 2022 vanadium pentoxide sales reach 642000 pounds 25
4.14 Baigong Iron & Steel advances construction of 10ktpy vanadium pentoxide project 25
4.15 CHTI to invest RMB500 million to build Hami Vanadium-Titanium Company 25
4.16 Heilongjiang Jianlong's vanadium slag production reaches historical high 25
4.17 Largo reports 28% increase YoY in vanadium pentoxide sales 25
4.18 Largo reports 28% increase in Q1 vanadium pentoxide sales 25
4.19 Huihong Mining to build two 3ktpa high-purity vanadium pentoxide beneficiation and smelting production lines 25
4.20 High-purity vanadium production line put into operation in Chengde, China 26
4.21 Neometals executes offtake agreement with Glencore for Vanadium Recovery Project 26
4.22 Worker killed at Largo's Maracas Menchen vanadium mine 26
4.23 Largo's vanadium pentoxide quarterly output and sales fall 26
4.24 Heilongjiang Jianlong reports record monthly vanadium pentoxide production 26
4.25 Pangang Vanadium & Titanium and Hanzhong Steel sign vanadium slag consigned processing contract 26
4.26 Australian Vanadium signs option agreement for vanadium processing plant land 26
4.27 Huihong Mining and Fengyuan Vanadium sign vanadium resources cooperation agreement 26
4.28 Auction results released for Sichuan Hongge V-Ti magnetite mining claim 27
5. Producers Statistics 27
5.1 Vanadium pentoxide flake 27
5.1.1 The producers number of vanadium pentoxide flake in 2023 27
5.1.2 The production capacity of vanadium pentoxide flake in 2023 27
5.1.3 The operating rate statistics of vanadium pentoxide flake in 2023 27
5.1.4 The output statistics of vanadium pentoxide flake in 2023 28
5.1.5 The inventory statistics of vanadium pentoxide flake in 2023 28
5.2 Vanadium nitride 28
5.2.1 The producers number of vanadium nitride in 2023 29
5.2.2 The production capacity vanadium nitride in 2023 29
5.2.3 The operating rate statistics of vanadium nitride in 2023 29
5.2.4 The output statistics of vanadium nitride in 2023 29
5.2.5 The inventory statistics of vanadium nitride in 2023 30
5.3 Ferrovanadium 30
5.3.1 The producers number of ferrovanadium in 2023 30
5.3.2 The production capacity of ferrovanadium in 2023 30
5.3.3 The operating rate statistics of ferrovanadium in 2023 31
5.3.4 The output statistics of ferrovanadium in 2023 31
5.3.5 The inventory statistics of ferrovanadium in 2023 31
5.4 ammonium metavanadate 32
5.4.1 The producers number of ammonium metavanadate in 2023 32
5.4.2 The production capacity of ammonium metavanadate in 2023 32
5.4.3 The operating rate statistics of ammonium metavanadate in 2023 32
5.4.4 The output statistics of ammonium metavanadate in 2023 33
5.4.5 The inventory statistics of ammonium metavanadate in 2023 33
5.5 Vanadium pentoxide powder 34
5.5.1 The producers number of vanadium pentoxide powder in 2023 34
5.5.2 The production capacity of vanadium pentoxide powder in 2023 34
5.5.3 The operating rate statistics of vanadium pentoxide powder in 2023 34
5.5.4 The output statistics of vanadium pentoxide powder in 2023 35
5.5.5 The inventory statistics of vanadium pentoxide powder in 2023 35
6. Customs Statistics 35
6.1 Chinese export volume of vanadium pentoxide up by 21.27% in 2023 35
6.2 Chinese import volume of vanadium pentoxide down by 375.15% in 2023 36
6.3 Chinese import volume of ferrovanadium (V≥75%) down by 31.3% in 2023 36
6.4 Chinese export volume of ferrovanadium (V≥75%) up by 22.6% in 2023 36
6.5 Chinese import volume of ferrovanadium (V＜75%) down by 28.72% in 2023 36
7. Relevant Industry News 37
7.1 Prices trend for downstream products of vanadium 37
8. Supply and Demand Outlook 38
8.1 The supply expectation 38
8.1.1 Vanadium pentoxide flake production 38
8.1.2 Vanadium pentoxide flake export 38
8.1.3 Vanadium pentoxide flake import 38
8.1.4 Ferrovanadium production 38
8.1.5 Ferrovanadium export 38
8.1.6 Ferrovanadium import 38
8.1.7 Vanadium nitride production 38
8.1.8 Ammonium metavanadate 38
8.1.9 Vanadium pentoxide powder 38
8.2 The demand expectation 38
8.2.1 Metallurgical demand expectation 38
8.2.2 Chemical demand expectation 38
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1. Definition, Type, Distribution, Applications 4
1.1 Definition 4
1.2 Type 4
1.2.1 Types of Minerals 4
1.2.2 Types of Products 4
1.3 Distribution 4
1.3.1 Distribution of Minerals 4
1.3.2 Distribution of Products 4
1.4 Applications 5
1.4.1 Application of Major Vanadium Minerals by Capacity 5
1.4.2 Application of Vanadium Products by Capacity 5
2. Economy and Policy 5
2.1 IMF: China would account for a quarter of global economic growth in 2023 5
2.2 23 provinces set a GDP growth target of up to 9.5% this year 5
2.3 The average value of global manufacturing PMI in 2022 stays at 51.8% 6
2.4 Central Bank: RMB loans increased by 4.9 trillion yuan in January 6
2.5 Central Bank: RMB loans increased by 4.9 trillion yuan in January 6
2.6 The full recovery of China's manufacturing has become a stabilizer for world economic recovery 6
2.7 China's import and export volume brakes RMB40 trillion for the first time and remains the world's largest for 6 consecutive years 6
2.8 Foreign media: China's GDP growth target in 2023 demonstrates the revival of economic confidence 6
2.9 OECD: China's economic recovery on track 6
2.10 In the first two months, China absorbed RMB268.44 billion of foreign investment 6
2.11 Russian Defense Ministry: Production of some ammunition will increase by 6-7 times before the end of the year 6
2.12 China's loans increase sharply in the first quarter 6
2.13 China's foreign trade import and export increases by 4.8% YoY in the first quarter of 2023 6
2.14 China's GDP in the first quarter surges by 4.5% YoY 6
2.15 National Bureau of Statistics: From January to March, the profits of industrial enterprises falls by 21.4% YoY 6
2.16 1.48 million tax-related business entities newly established in April 7
2.17 The UN forecasts that the world economy would grow by 2.3% in 2023 7
2.18 State Administration of Taxation: From January to April, China added RMB468.9 billion in tax and fee reductions and tax rebate deferred fees 7
2.19 China's manufacturing sentiment hits a five-month low 7
2.20 China's manufacturing sentiment hits a five-month low 7
2.21 National Bureau of Statistics: CPI rose by 0.2% YoY and PPI fell by 4.6% YoY in May 7
2.22 General Administration of Customs: The total value of China's import and export in the first five months stays at RMB16.77 trillion 7
2.23 China's PMI maintains a recovery trend 7
2.24 Bank of China Research Institute: GDP would grow by 4.9% in the third quarter and 5.4% for the whole year 7
2.25 The total value of imports and exports in the first half of this year increases to RMB20 trillion for the first time 7
2.26 China's GDP grew by 5.5% YoY in the first half of this year and 6.3% in the second quarter 7
2.27 In the first half of the year, China's cross-border e-commerce imports and exports increased by 16% YoY 7
2.28 Both RMB loans and social financing declined in July 7
2.29 Ministry of Commerce: From January to July, China's outbound investment continued to grow 8
2.30 National Bureau of Statistics: From January to July, the profits of national industrial enterprises fell by 15.5% 8
2.31 National Bureau of Statistics: PMI index rises steadily in August 8
2.32 National Bureau of Statistics: PMI index rises steadily in August 8
2.33 National Bureau of Statistics: CPI increases by 0.1% YoY in August and 0.3% MoM 8
2.34 NBS: Industrial added value increases by 4.5% YOY and 0.5% MOM in Aug 8
2.35 NBS: Crude iron ore production increases by 1.3% YOY with cumulative increase of 7% 8
2.36 NBS: National industrial producer price index (PPI) decreases by 2.5% YOY and up by 0.4% MOM in Sep 8
2.37 NBS: National industrial producer price index (PPI) narrows for three consecutive months, rising by 0.4% MOM 8
2.38 NBS: National real estate development investment falls by 9.1% YOY in Jan-Sep 8
2.39 China launches third round of central environmental inspections 8
3. Market Movements 8
3.1 Domestic Market 8
3.1.1 Ammonium Metavanadate 98%min EXW China 8
3.1.2 Vanadium pentoxide powder 98%min EXW China 9
3.1.3 Vanadium pentoxide powder 99%min EXW China 10
3.1.4 Vanadium pentoxide powder 99.5%min EXW China 11
3.1.5 Vanadium pentoxide flake 98%min EXW China 12
3.1.6 Ferrovanadium 50%min delivered China 13
3.1.7 Vanadium nitride N14%min V77%min delivered China 14
3.2 Import Market 14
3.2.1 Ferrovanadium 50%min CIF China 14
3.2.2 Ferrovanadium 50%min in port China 15
3.2.3 Vanadium pentoxide flake 92%min CIF China 16
3.2.4 Vanadium pentoxide flake 92%min in port China 17
3.2.5 Vanadium pentoxide flake 98%min CIF China 18
3.2.6 Vanadium pentoxide flake 98%min in port China 19
3.3 International Market 20
3.3.1 Ferrovanadium 80%min in warehouse Rotterdam 20
3.3.2 Vanadium pentoxide flake 98%min in warehouse Rotterdam 21
3.3.3 Ferrovanadium 80%min in warehouse Pittsburgh 21
3.3.4 Ferrovanadium 50%min in warehouse Russia 22
4. Company News 23
4.1 Largo's vanadium pentoxide sales reach above 11kt 23
4.2 Neometals confirms 19.1Mlbs vanadium pentoxide production at vanadium recovery project 23
4.3 Hengjiu Antai: All-vanadium energy storage battery project Phase I may complete construction by end of 2023 23
4.4 Largo expects 2023 vanadium pentoxide production up to 12kt 24
4.5 JISCO smelting and rolling plant announces bidding result for vanadium nitride 24
4.6 Haili Group obtains two exploration rights of Asia's largest vanadium mine for free 24
4.7 Sichuan issues guideline for high-quality development of vanadium-titanium steel and rare earth industries 24
4.8 District Metals applies for license to explore 23.6Mt V-U-Mo-Ni-Cu-Zn deposit 24
4.9 Pangang Group Vanadium & Titanium and other two parties to build whole industry chain of VRB energy storage in Panzhihua 24
4.10 Pangang Group Vanadium & Titanium accelerates 60ktpy molten-salt rutile titanium dioxide project progress 24
4.11 Wusteel stage two vanadium nitride project goes into construction 24
4.12 Huihong Mining carries out construction of over 3ktpa vanadium pentoxide production line 25
4.13 Energy Fuels: 2022 vanadium pentoxide sales reach 642000 pounds 25
4.14 Baigong Iron & Steel advances construction of 10ktpy vanadium pentoxide project 25
4.15 CHTI to invest RMB500 million to build Hami Vanadium-Titanium Company 25
4.16 Heilongjiang Jianlong's vanadium slag production reaches historical high 25
4.17 Largo reports 28% increase YoY in vanadium pentoxide sales 25
4.18 Largo reports 28% increase in Q1 vanadium pentoxide sales 25
4.19 Huihong Mining to build two 3ktpa high-purity vanadium pentoxide beneficiation and smelting production lines 25
4.20 High-purity vanadium production line put into operation in Chengde, China 26
4.21 Neometals executes offtake agreement with Glencore for Vanadium Recovery Project 26
4.22 Worker killed at Largo's Maracas Menchen vanadium mine 26
4.23 Largo's vanadium pentoxide quarterly output and sales fall 26
4.24 Heilongjiang Jianlong reports record monthly vanadium pentoxide production 26
4.25 Pangang Vanadium & Titanium and Hanzhong Steel sign vanadium slag consigned processing contract 26
4.26 Australian Vanadium signs option agreement for vanadium processing plant land 26
4.27 Huihong Mining and Fengyuan Vanadium sign vanadium resources cooperation agreement 26
4.28 Auction results released for Sichuan Hongge V-Ti magnetite mining claim 27
5. Producers Statistics 27
5.1 Vanadium pentoxide flake 27
5.1.1 The producers number of vanadium pentoxide flake in 2023 27
5.1.2 The production capacity of vanadium pentoxide flake in 2023 27
5.1.3 The operating rate statistics of vanadium pentoxide flake in 2023 27
5.1.4 The output statistics of vanadium pentoxide flake in 2023 28
5.1.5 The inventory statistics of vanadium pentoxide flake in 2023 28
5.2 Vanadium nitride 28
5.2.1 The producers number of vanadium nitride in 2023 29
5.2.2 The production capacity vanadium nitride in 2023 29
5.2.3 The operating rate statistics of vanadium nitride in 2023 29
5.2.4 The output statistics of vanadium nitride in 2023 29
5.2.5 The inventory statistics of vanadium nitride in 2023 30
5.3 Ferrovanadium 30
5.3.1 The producers number of ferrovanadium in 2023 30
5.3.2 The production capacity of ferrovanadium in 2023 30
5.3.3 The operating rate statistics of ferrovanadium in 2023 31
5.3.4 The output statistics of ferrovanadium in 2023 31
5.3.5 The inventory statistics of ferrovanadium in 2023 31
5.4 ammonium metavanadate 32
5.4.1 The producers number of ammonium metavanadate in 2023 32
5.4.2 The production capacity of ammonium metavanadate in 2023 32
5.4.3 The operating rate statistics of ammonium metavanadate in 2023 32
5.4.4 The output statistics of ammonium metavanadate in 2023 33
5.4.5 The inventory statistics of ammonium metavanadate in 2023 33
5.5 Vanadium pentoxide powder 34
5.5.1 The producers number of vanadium pentoxide powder in 2023 34
5.5.2 The production capacity of vanadium pentoxide powder in 2023 34
5.5.3 The operating rate statistics of vanadium pentoxide powder in 2023 34
5.5.4 The output statistics of vanadium pentoxide powder in 2023 35
5.5.5 The inventory statistics of vanadium pentoxide powder in 2023 35
6. Customs Statistics 35
6.1 Chinese export volume of vanadium pentoxide up by 21.27% in 2023 35
6.2 Chinese import volume of vanadium pentoxide down by 375.15% in 2023 36
6.3 Chinese import volume of ferrovanadium (V≥75%) down by 31.3% in 2023 36
6.4 Chinese export volume of ferrovanadium (V≥75%) up by 22.6% in 2023 36
6.5 Chinese import volume of ferrovanadium (V＜75%) down by 28.72% in 2023 36
7. Relevant Industry News 37
7.1 Prices trend for downstream products of vanadium 37
8. Supply and Demand Outlook 38
8.1 The supply expectation 38
8.1.1 Vanadium pentoxide flake production 38
8.1.2 Vanadium pentoxide flake export 38
8.1.3 Vanadium pentoxide flake import 38
8.1.4 Ferrovanadium production 38
8.1.5 Ferrovanadium export 38
8.1.6 Ferrovanadium import 38
8.1.7 Vanadium nitride production 38
8.1.8 Ammonium metavanadate 38
8.1.9 Vanadium pentoxide powder 38
8.2 The demand expectation 38
8.2.1 Metallurgical demand expectation 38
8.2.2 Chemical demand expectation 38
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