Ferrovanadium Prices – Historical Graph

Real-time chart of historical daily ferrovanadium prices. The prices are shown in kilogram.
The current price is and is last updated on .
  • The average price in the past 3 days is
  • The average price in the past 7 days is
  • The average price in the past 30 days is
  • The average price in the past 365 days is

Ferrovanadium Prices Explained

Ferrovanadium prices will largely benefit from the growing North American steel market as the region’s production and consumption support its economic growth. Population growth and rapid urbanization play major roles in driving infrastructure and construction industry development, with the United States dominating over 80% of the North American market.

Additionally, the automotive industry’s huge appetite for steel fuel ferrovanadium prices. This strong demand comes from both developed and developing countries, with the NA region holding a 13.5% global market share. Presently, China is the world’s largest producer of vanadium and market analysts expect the country to dominate the ferrovanadium market on a global scale.

Why are ferrovanadium prices fluctuating?

1. Increase Demand from Oil and Gas Industries

The incorporation of ferrovanadium into steel for oil and gas applications enhances strength and corrosion resistance. Thus, this contributes to its price fluctuation as it’s a vital requirement in fulfilling the precise material needs of oil and gas projects.

The market for ferrovanadium continuously grows due to the rising need for pipes resulting from the development of city gas distribution and cross-country pipelines. Furthermore, high-strength low-alloy steel with vanadium content is frequently used to satisfy the particular needs of these crucial applications because of its durability and extensive use in oil and gas pipelines.

2. Growing Environmental Concern

Environmental concerns along with fluctuations in the price of raw materials will likely limit the growth of the market as steel production released a combined 1.89 tons of carbon dioxide into the atmosphere, a concerning activity related to global warming.

Moreover, the industry produced 1,860 million tons of steel and generated approximately 2.6 billion tons of direct emissions, or 7% to 9% of the world’s human-caused carbon dioxide emissions. Thus, this industrial activity will highly affect ferrovanadium prices and its marketability.

3. Global Economic Conditions

The Ferro Vanadium Market faced significant challenges due to the impact of inflation and geopolitical tensions as these disrupted supply chains, leading to delays in steel and raw material deliveries.

Moreover, it experienced a decrease in growth due to reduced demand for steel in global industries like automotive, construction, and aviation, resulting from a decline in people’s spending capacity. As a result, ferrovanadium prices fluctuated, addressing some mixed signals across the global market.

4. Weather Conditions

The availability of vanadium in the supply chain may decline due to weather, which will impact the price of ferrovanadium. The reports of floods in Brazil’s Bahia region largely affected vanadium output since late December. Additionally, the market’s negative reaction to the supply disruptions in Brazil led to higher price expectations due to low vanadium production and the ensuing tightening of the global supply.

Which variables impact the price of ferrovanadium?

  • Increase Demand from Oil and Gas Industries
  • Growing Environmental Concern
  • Global Economic Conditions
  • Weather Conditions
  • Supply and Demand
  • Market Speculations

Where does ferrovanadium come from?

Ferrovanadium is a crystalline solid with a grayish-silver appearance that is crushed into ferrovanadium dust. Additionally, it is a mixture of iron and vanadium with a variable vanadium percentage ranging from 35% to 85%.

Iron and raw materials containing vanadium are mixed in a metallurgical process to produce ferrovanadium. Here is an overview of the process:

1. Raw Material Selection – The method of producing ferrovanadium begins with the exact selection of raw materials. Typically, sources rich in vanadium pentoxide, such as vanadinite or magnetite are chosen as common vanadium-bearing ores for this purpose.

2. Ore Processing – Vanadium pentoxide is extracted by processing ores that contain vanadium. To maximize its content, this process involves several kinds of methods, such as crushing, grinding, and beneficiation.

3. Chemical Extraction – To remove vanadium in a form appropriate for alloying, the concentrated element is subjected to chemical procedures. Usually, it covers the steps in the extraction process that involve refining and the use of chemicals.

4. Ferrovanadium Production – After extraction, it is combined with iron to form ferrovanadium. Also, this alloying process is often carried out in an electric arc furnace or a similar smelting device.

5. Alloying and Smelting – Next, vanadium and iron are melted in precise proportions within the electric arc furnace. The controlled conditions and elevated temperatures enable the creation of the ferrovanadium alloy.

6. Cooling and Solidifying – After the alloying process, the molten ferrovanadium undergoes cooling and solidification. The final product takes the form of solid alloy ingots or other shapes, prepared for subsequent processing or utilization in diverse applications.

What are the uses of ferrovanadium?

Generally, ferrovanadium is used to produce steel due to its excellent stability against alkalis and acids.

Additionally, it is important in making strong and corrosion-resistant steel for architecture and design products like structural plates and concrete reinforcing bars, these components help buildings last longer and stay structurally sound. Some key industrial uses of ferrovanadium include:

1. Steel Production – Steel production is the primary usage of ferrovanadium as it increases steel strength and hardness.

2. Chemical Processing Industry – In the chemical processing sector, steels strengthened with ferrovanadium find application in high-pressure fluid handling systems, particularly in the large-scale production of sulfuric acid.

3. Non-Metallurgical Applications – Additionally, it finds significant applications in the electronics sector, chemicals, pigments, ceramics, and health products as it contributes to the production of superconductive magnets.

4. Construction – The construction industry uses ferrovanadium, particularly where high-strength steel is required for structural components. It enhances the longevity and stability of buildings, bridges, and various infrastructure projects.

5. Aerospace Industry – Due to its application in specific steels, it is a good material to utilize for building spaceships and airplanes.

6. Automotive Industry – Automobile industries use ferrovanadium to enhance the mechanical properties of steel used in car components.
Furthermore, it helps produce materials that are strong and lightweight for a variety of automotive applications.

What is the future price of ferrovanadium?

The expansion of the transportation sector and the strong demand for ferrovanadium in the manufacturing of axles, body frames, and crankshafts will further drive up its prices in the coming years.

Also, the need for this commodity in concrete reinforcing bars is due to the growing building and construction sector in emerging economies such as China and India. Furthermore, ferrovanadium’s use in oil and gas pipelines is another factor driving the market’s expansion.

Overall, the price of ferrovanadium will be $41.82, with an expected global market size of around $4.6 billion by 2028 with a CAGR of 5.5%.


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