RE:August production blows away previous monthly records118%.
In 2005 and for most of 2008, the market experienced similar price moves in V2O5. See the chart below.
The difference is in 2005, global vanadium pentoxide consumption was 50,000 tonnes. In 2008, the vanadium pentoxide consumption was about 61,000 tonnes. In 2017, the forecast consumption is about 88,000 tonnes with a production forecast of about 80,000 tonnes. (a forecast 2017 deficit of 8,000 tonnes)
Now that the summer holidays are over, the risk is people pitch up at their trading desks and see empty warehouses with no V2O5 in sight.
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2. With all the headlines about Hurricane Harvey, I thought you should see the path of the hurricane and where the South Texas Project (STP) nuclear power plant is located. The anti-nuclear brigade often state mistruths about extreme weather conditions and nuclear power.
What I find interesting is refineries shut down, wind turbines shut down, and of course, solar power generation did not work. About 20% of the USA oil production stopped and gasoline prices spiked. And yet, the 2 reactors near Houston were operating at full capacity, providing 2,700 MegaWatts of power to over 2,000,000 customers in the area.
Unsurprisingly, nuclear power generation is the only energy source immune to all EXTREME weather events. As an example of wind power in the Houston area, the North American Wind Power Corporation sent all 39 workers home then shut down operations once wind speeds exceeded the turbine design limits.
The map of Harvey and the STP is below.
Regards,
Russell
This is not a recommendation to buy or sell any securities.