Japan Vanadium Demand UpUpdate on Japanese vanadium supply and demand in CY 2010
TEX has traced the actual quantities of vanadium produced, importedand consumed by Japan in the calendar year of 2010. The consumption ofvanadium in Japan has closely connected with production activities ofspecial steels and this tide has grasped a key of vanadium business.
The output of crude special steels in Japan in the calendar year of 2010came up to 24.671 million tonnes, up by 53% YoY as compared with thatin the preceding year of 2009. Among special steel products, suchspecial steels as high tension steel, stainless steel and alloy steelconsume more vanadium for its productions and the total quantity ofthese special steel products produced in Japan for 2010 reached2,400,000 tons, which had a substantial expansion of 38.2% compared tothat for 2009.
Under the circumstances, the actual quantities of vanadium consumed and imported by Japan in 2010 were:
Ferro vanadium: consumed 6,584 tonnes, up by 45.9% YoY
Ferro vanadium: imported 4,587 tonnes, up by 69.1% YoY
Vanadium pentoxide: imported 1,954 tonnes, up by 23.2% YoY
For a reference, Japan produced 4,190 tonnes in material offerrovanadium in 2010, having had a considerable increase of 67.6%compared with that in 2009.
On the other hand, the global supply of vanadium in 2010 became anexcess. This oversupply of vanadium in the international market was dueto an aftereffect of the Lehman shock, having caused a crisis of theworld economy and the excessive stocks of vanadium accumulated in 2009were carried over to 2010.
Also, according to a presumption by Evraz of Russia, the world output ofvanadium in 2010 is estimated to be 64,000 tonnes, while the globalconsumption of vanadium in the same year is thought to be 61,000 tonnes.Therefore, there was no margin to adjust the world supply of vanadiumin 2010. The parties concerned expect to see a favorable issue of theadjustment on supply and demand of vanadium to be implemented in 2011.
(Sourced from TEX Report Limited)