Vanadium is rapidly becoming more expensive, jeopardizing its application prospects

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Price for vanadium, which can be a key metal for the manufacture of batteries, is rapidly growing, Bloomberg writes. This situation calls into question the prospects for its use. Currently, vanadium is mainly used in steelmaking. China's increased demand for stronger steel over the past two years has increased the cost of vanadium by more than 800%. The new rules, which the Chinese authorities plan to introduce in November, will require an increase in the strength of steel used in construction, which will further increase the demand for vanadium. Today, the price of vanadium is $115 per kilogram, while its economically reasonable price for batteries is $30 per kilogram.

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