- Spot vanadium prices are on the rise again having settled above USD$10 on the back of tight supply and strong demand (Mastermines).
- The extreme prices in 2018 dampened demand in both the steel and redox flow battery markets, however as prices pulled back in early 2019 demand has picked up in both markets.
- Multiple large scale VRB projects have been announced in 2019 including the Dalian City 100MW / 400Mwh VRB which has commenced construction and due for completion in 2020.
- Market experts suggest that a USD$10 V2O5 price is the ceiling for viable VRBs, this has generated an industry push towards leasing structures and integration of mining and battery production. The new Chinese rebar standards were not strictly enforced in 2018 (or enforced at all) due to the high vanadium prices at the time, however recent reports have emerged that inspections and licence renewals will result in some level of enforcement in the second half of 2019.
- Vecco expects medium term prices to average USD$10-12 with some volatility to remain.