Australian Vanadium (ASX:AVL) signed a non-binding memorandum of understanding with chemical producer US Vanadium for future vanadium offtake sourced from the miner’s Vanadium project in Western Australia.

“AVL is developing one of the highest-grade vanadium projects underway in the world and our aim is to become a low-cost producer able to withstand long-term commodity price cycles,” said managing director Vincent Algar.

January-October 2020 China's exports of V2O5 by country statistics

January-October 2020 China's imports of V2O5 by country statistics

Vanadium begin to pick up; Tungsten and Molybdenum steadily up

Recently, the market price of vanadium alloy has risen steadily. Bidding of major domestic steel mills has not yet begun, most are still on the sidelines.

Drilling is underway at the Australian Vanadium Project’s Gabanintha resource, as its namesake owner works towards a bankable feasibility study (BFS) on the flagship project in WA.

Molybdenum is rising; Tungsten and Vanadium are running smoothly