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[Ferro-Alloys.com] VANADIUM Mineral Commodity Summaries, February 2026

Events, Trends, and Issues: The estimated average Chinese vanadium pentoxide (V2O5) price (98% V2O5 content) in 2025 was $5.02 per pound compared with $5.44 in 2024. The estimated United States ferrovanadium price (78% to 82% vanadium content) was $14.14 per pound in 2025 compared with $13.05 in 2024. Like most ferroalloys, vanadium is largely dependent on the market characteristics of the steel industry, particularly the Chinese steel sector, which plays a central role in global steel production. In 2025, China continued to be the world’s top vanadium producer, with most of its production originating as a coproduct from vanadiferous titanomagnetite ores processed during steelmaking.

Executive Order 14257, effective April 5, 2025, established a 10% baseline reciprocal tariff on most imports, with higher rates for select countries. Executive Order 14323 increased tariffs from 10% to 50%, effective August 6, 2025,

on many imports from Brazil, including high-purity vanadium products but not ferrovanadium. A major producer and supplier of vanadium in Brazil sought an exemption after experiencing delays and defaults on its high-purity vanadium contracts, citing the importance of its high-purity vanadium for U.S. aerospace and defense applications. Imports for the year were estimated based on data through July 2025 and may not fully reflect the effects of the tariffs.

Vanadium redox flow batteries (VRFBs) continued to be used in large-scale energy storage systems in 2025, owing to their operational safety, long cycle life, and suitability for medium- to long-duration use. Installations increased worldwide, supported by renewable energy growth and government policies. However, high capital costs and limited availability of high-purity vanadium feedstock remained key challenges. VRFBs also faced competition from a range of alternative battery chemistries being developed for similar grid-scale storage applications.

World Mine Production and Reserves: Production in 2024 for China was revised significantly based on a Government report. Reserves for Australia, Brazil, China, South Africa, and the United States were revised based on company and Government reports.

Production and Reserves: Reserves for China and South Africa were revised based on company and Government reports.

World Resources: World resources of vanadium exceed 63 million tons. Vanadium occurs in deposits of phosphate rock, titaniferous magnetite, and uraniferous sandstone and siltstone, in which it constitutes less than 2% of the host rock. Significant quantities are also present in bauxite and carboniferous materials, such as coal, crude oil, oil shale, and tar sands. Because vanadium is typically recovered as a byproduct or coproduct, demonstrated world resources of the element are not fully indicative of available supplies.

Substitutes: Steels containing various combinations of other alloying elements can be substituted for steels containing vanadium. Certain metals, such as manganese, molybdenum, niobium (columbium), titanium, and tungsten, are to some degree interchangeable with vanadium as alloying elements in steel. Platinum and nickel can replace vanadium compounds as catalysts in some chemical processes. Currently, no acceptable substitute for vanadium is available for use in aerospace titanium alloys.

• [Editor:tianyawei]