RE:RE:RE:Opportunity for China to “steal” Bushveld Minerals? They, like the consulting firms, probably realize that V demand is set to outweigh China V supply, especially with the reduced China steel production and thus reduced China vanadium production. China looks to be in the entry phase of becoming a V importer. VRFB demand will only reduce supply further. In the first three quarters of 2023, VRFB demand equated to 8% of total vanadium demand, up from just 2% in 2024, so VRFB is already here and now and eating up a growing chunk of total V supply.