Vanadium Market Update (December 12, 2012)

- December 12th, 2012

A brief overview of vanadium price developments, supply and demand and significant market movers.

European vanadium prices are up due to tighter availability and orders coming in ahead of the new year, according to data from Metal-Pages.

European vanadium pentoxide (fused-flake 98-percent min) is up 8.29 percent, between $5.30 and $5.80 a pound, compared to the November average of $5 to $5.25/lb.

In China, vanadium pentoxide (V205 98 percent) is up 1.19 percent to between 84,000 and 85,000 yuan per metric tonne (US$13,448 to $13,608). The November average was between 83,000 and 85,000 yuan per metric tonne (US$13,287 to $13,608).

At those prices, vanadium pentoxide compares to levels last seen in October 2011, when the metal was averaging $6.75 a pound in Europe and 82,000 yuan per metric tonne (US$13,127) in China.

Vanadium pentoxide is the main ingredient for the ferrovanadium alloy.

Company news

Vancouver-based Crosshair Energy (TSX:CXX,AMEX:CXZ) terminated a sale and purchase agreement between it and Strathmore Minerals (TSX:STM) for the sale of the Juniper Ridge property in Southern Wyoming. The company said it would prefer to allocate resources toward its uranium properties in Argentina.

American Vanadium (TSXV:AVC,OTCQX:AVCVF) announced a non-brokered private placement worth $1.5 million. Each unit, sold at 65 cents, consists of one common share and half a warrant. Warrant holders will be entitled to purchase common shares for $1 per share one year after the placement closes. Proceeds will go towards mine design, environmental permitting and working capital. American Vanadium is developing the Gibellini project in Nevada, the only vanadium mine in the United States.


Securities Disclosure: I, Andrew Topf, hold no direct investment interest in any company mentioned in this article.

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