Vanadium pentoxide price jumps 25% after extended South Africa lockdown sparks supply concerns

The price of vanadium pentoxide in Europe jumped by more than 25% in the week ended Friday April 17 due to concerns over obtaining the material during the continued lockdown in South Africa.

Fastmarkets assessed the vanadium pentoxide 98% V2O5 min, in-whs Rotterdam price at $6.90-7.45 per lb on Friday, up 25.3% from the previous week's assessment of $5.2-6.25 per lb and at a three-month high.
Prices have been moving up over the past month with buyers struggling to find cheap prompt units due to increasing worries over future availability of material, market sources said. The pentoxide market is now trading at its highest since mid-February.
The lockdown order in South Africa was issued on Monday March 23 amid the spread of Covid-19 and was subsequently extended on Thursday April 9 by a further two weeks from the initial 21 days.

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