According to Terry Perles of TTP Squared, Inc., thanks to the simultaneous growth of global steel production and vanadium consumption intensity, the average annual growth rate of vanadium consumption in the world from 2010 to 2015 is estimated to be 10.4%. In 2015, the consumption of vanadium will reach 9.9. 10,000 tons, and it is predicted that the prices of vanadium pentoxide will fluctuate in the range of 5.5-13.5 USD/lb between 2011 and 2012.
Terry Perles said that the world crude steel growth rate was 7.0% in 1999-2007, 5.5% in 1999-2010, and 5.0% in 2000-2010.
The average annual growth rate of composite steel production in China was 18.8% in 1999-2007, 15.9% in 1999-2010, and only 3.3% and 1.5% in the rest of the world.
From 1999 to 2010, the growth rate of China’s vanadium consumption was 20.5%, compared with 1.5% in other countries in the world.
In the next five years, China's crude steel growth rate is about 6.02%, and its vanadium consumption growth rate is 4.5%. The rest of the world was 8.12%, and the growth rate of vanadium consumption was 2.52%.
In the report, he further proposed that the future supply of vanadium slag and raw vanadium ore will become the main factor affecting the supply and demand balance in the vanadium market. In addition, the application of vanadium in the energy storage field will likely become the bright spot for the growth of vanadium demand in the future.
Terry Perles said that the world crude steel growth rate was 7.0% in 1999-2007, 5.5% in 1999-2010, and 5.0% in 2000-2010.
The average annual growth rate of composite steel production in China was 18.8% in 1999-2007, 15.9% in 1999-2010, and only 3.3% and 1.5% in the rest of the world.
From 1999 to 2010, the growth rate of China’s vanadium consumption was 20.5%, compared with 1.5% in other countries in the world.
In the next five years, China's crude steel growth rate is about 6.02%, and its vanadium consumption growth rate is 4.5%. The rest of the world was 8.12%, and the growth rate of vanadium consumption was 2.52%.
In the report, he further proposed that the future supply of vanadium slag and raw vanadium ore will become the main factor affecting the supply and demand balance in the vanadium market. In addition, the application of vanadium in the energy storage field will likely become the bright spot for the growth of vanadium demand in the future.