Cresco Labs Inc C.CL

Vanadium/Titanium etc..

[JayBe]

Creamer Media's Mining Weekly Online, South African Mining News :: News Today engineering, south, africa, diamond, mining, gold, electricity, mandela, engineering, news, travel, silver, platinum, coal, creamer media, south africa, steel, industry, african, construction, aluminium, power, air, careers, market, project, cape town, cape, transport, pumps, waste, valves, technology, manufacturers, business, control systems, refineries, tenders, results, csir, engineering news Mining Weekly engineering, south, africa, diamond, mining, gold, electricity, mandela, engineering, news, travel, silver, platinum, coal, creamer media, south africa, steel, industry, african, construction, aluminium, power, air, careers, market, project, cape town, cape, transport, pumps, waste, valves, technology, manufacturers, business, control systems, refineries, tenders, results, csir, engineering news Mining Weekly Economic indicators Source: McGregor BFA 30 minutes delayed. Gold $431.20 -1.89% Platinum $869.00 -0.91% Rand/Euro R8.06 -0.18% Rand/Dollar R6.12 -1.36% News Today Vanadium at all-time high on supply scarcity -------------------------------------------------------------------------------- Ferro-vanadium, an alloy widely used in steel-making, was trading at all-time highs in Europe at the weekend and looking to extend gains as supplies from producers such as South Africa dry up, traders said. "The price is well into the $90 (a kg) – no one has got any to sell at the moment. The South Africans appear to be sold out, and we hear that they have some problems," a London trader said. Ferro-vanadium was trading at levels of $95/kg, having soared from just below $70 a week ago. Its previous record high was set in 1998/1999. Feedstock material vanadium pentoxide (V2O5) was also at a new peak, with business around $20/lb. "There are shortages all around," another London trader said. South Africa is the world's largest producer of vanadium, accounting for around 17 000 t of world output of some 43 000. Vanadium is found as a trace element in several rock materials and is a by-product of other mining operations. China produces 16 000 t, but it is making less available for export as its booming steel industry is sucking up the metal, traders said. "Demand is good, but it (strength) is really supply-led," the first trader said. Most vanadium is used as an additive to improve steels, while pentoxide is used in ceramics, glass-making and as a chemical catalyst. The majority of pentoxide used in glass manufacturing is imported from South Africa. Prices are expected to rise further given the strong trends and high prices in other ferroalloys such as molybdenum, tungsten and titanium. "You cannot buy it below $90 now – we won't offer below $100, so it is heading for three figures," a producer said. Substitution would normally be a threat – steels containing combinations of other alloying elements can be substituted for steels containing vanadium. Manganese, molybdenum, titanium and tungsten are to some extent interchangeable with vanadium. But these are becoming equally expensive, traders said. – Reuters. -------------------------------------------------------------------------------- E-mail the article: Published: 2005/03/21 Printer friendly: Author: Reuters Portfolio: writer E-mail: [e-mail] Subscribe Now Research Channel Online Subscribe to Creamer Media’s Research Channel Online and access: • in-depth industry reports; • industrial and mining project overviews; • a listing of mine profiles; • a database of sector surveys; • an advanced search engine; • digital back copies of Engineering News and Mining Weekly. Log On Subscriber log on