The price graph for vanadium, especially ferrovanadium, continued northwards the past week. Alloy ferrovanadium was selling between US$ 12.30-13 per pound, slightly higher than the earlier week. Analysts say one reason could be because the global steel market was showing strong signs of improvement. Last Wednesday, for example, ferro-vanadium prices rose to US$ 27-29.50 per kg, up from the previous US$ 26.50-29 per kg, reported metalbulletin.com.

Opinion among analysts seem divided over the future prospects of vanadium. One section feels that if the Chinese steel mills continue to manufacture steel and book large-enough orders to tighten supply further, vanadium prices are bound to go further up. The other is of the opinion that if the "reds" were to squeeze supply, it would adversely affect vanadium in the short term.

In the US markets, spot metals prices for ferro-vanadium, too, continued their upward trajectory thanks to a tight supply picture. Ferro-molybdenum prices, though, remained unchanged. US spot ferro-vanadium prices moved up to a range of $13-13.50/lb.

In another positive bit of news, this time from Canada, the Vancouver-based Crosshair Exploration & Mining has cut the widest vanadium intercept to date – 241 metres near surface – during exploration drilling at its vanadium prospect in the Central Mineral Belt. The company, in a statement, said holes drilled outside the resource boundaries as currently defined continue to intersect vanadium mineralization.

Highlights from recent assays include 0.179 per cent V2O5 over 241 metres (from 30 to 271 metres) including 0.228 per cent over 20 metres (from 204 to 224 metres) in hole ML-182. Hole-143 assayed 0.428 per cent V2O5 over 14 metres (from 114 to 128 metres including 0.428 per cent over 4 metres (from 118 to 122 metres).