A more than 40% increase in the price of vanadium pentoxide (V2O5) since December lows is invigorating the industry, just as it is poised to see significant new demand for the steel-strengthening ingredient coming from the increasing adoption rate of vanadium-redox flow batteries (VRBs).
The commodity started 2015 with a mid price of $5.03/lb of V2O5, but it had all but halved as at December 31, falling to $2.38/lb. However, prices had shown signs of recovery in the first quarter, with a price at March 31, of between $2.70/lb and $3/lb, and a current mid-point at $3.35/lb, according to Metal Bulletin.
