What is the price of vanadium in 2025?

During the first quarter of 2025, the vanadium prices in Europe reached 11930 USD/MT (Vanadium Pentoxide) in March. The growing adoption of vanadium redox flow batteries (VRFBs) for energy storage, especially in renewable energy applications, increased demand for high-purity vanadium.

Why are vanadium redox flow batteries so popular?

As per the vanadium price index, demand for high-purity vanadium has surged due to the rising use of vanadium redox flow batteries (VRFBs) for energy storage, particularly in renewable energy applications. This demand was increased by Europe's shift to sustainable energy sources, which changed the dynamics of the market.

Why is Vanadium so popular?

The demand for vanadium remained strong, particularly due to its increased use in high-strength steel production (rebar standards) and the growing adoption of vanadium redox flow batteries (VRFBs) for energy storage.

How much does vanadium cost in India?

During the second quarter of 2025, vanadium prices in India reached 12874 USD/MT in June. India's steel industry remained a significant consumer of vanadium, primarily used as an alloying agent to enhance strength and durability.

Why are Vanadium prices so high in North America?

In North America, vanadium prices are closely tied to technological advancements in extraction and processing techniques, which aim to reduce costs and enhance efficiency. The region's emphasis on defense and technology sectors, which require precise and high-grade metals, drives demand variability.

Is steel really 90 percent of vanadium demand?

“No, no, no, no, absolutely not. If you want to look worldwide, you can say that steel in general is something like 90 percent (of vanadium demand),” Sardain said in a December interview with INN. The expert went on to point out that quantifying the amount of vanadium used in batteries and energy storage is challenging.