Hot-Rolled CoilsVanadium
Vanadium, commonly sold as V2O5 or ferro-vanadium ("FeV"), is a key micro-alloying element in the manufacture of lightweight, high-tensile, corrosion resistant steel products which are widely used in the construction, automotive, oil and gas, precision manufacturing and aerospace industries. About 87% of total global vanadium consumption is used in steel production.
The main source of vanadium comes from vanadium-bearing magnetite iron ore and commonly recovered from slag, a by-product occurred naturally during steel production. China has one of the world’s largest vanadium reserves with approximately 10 billion tonnes of proven vanadium-bearing magnetite iron ore, spread out over more than 10 provinces with concentration in the Panxi region of Sichuan. The Group’s directly-held Hong Kong-listed China VTM has two open-pit mines in this region with total iron ore reserves of about 80 million tonnes.