RE:more interesting ......of bushveldminerals, 10/15/2015: ..."Vanadium market Mojapelo says vanadium is a very attractive commodity. Its demand outlook is well supported by the global steel industry which accounts for approximately 90% of consumption, with significant emerging upside from the energy storage sector through (Vanadium Redox Flow Battery) VRFBs. Key to the vanadium demand in steel sector will be ongoing urbanisation and infrastructure build programmes in emerging markets as well as regulation-driven increased use of vanadium in steel production. Meanwhile, a concentrated and limited supply growth profile in the vanadium production can be expected to provide price support in the medium to long term. That 67% of supply is linked to coproduct steel producers processing relatively low grade vanadium-bearing magnetite deposits and operating under strained economics presents significant threats to vanadium supply - a threat that is heightened by the opportunity for these steel plants to switch to cheaper haematite iron ore (nonvanadium bearing) feedstock imports.”
https://www.bushveldminerals.com/upload/Reports/document/15-Oct-2015-SA-junior-explorer-developer-targets-global-vanadium-market.pdf