It’s turning out to be a great year for minor metals, reports Bloomberg.
Rechargeable-battery ingredient cobalt has gained 83%, while ruthenium, used in the chemical industry and electronics, is up 63%. The latest star is vanadium, an obscure silvery-grey metal thought to have been used to harden steel as far back as the Crusades.
Vanadium, which is also used in energy-storage batteries, has surged 67% since mid-July. Much of its rise has been driven by policy changes in Beijing. The China Iron & Steel Research Institute has proposed increasing the amount of vanadium required in construction steel, which would boost consumption. The new standard is expected to be announced in September.
“There are fundamental supply and demand issues that have driven the re-rating. Prices could go higher,” said Julian Treger, chief executive officer of Anglo Pacific Group Plc, which owns vanadium royalties. (Source: Bloomberg))
Articles are chosen for summary in this Market Intelligence blog based on newsworthiness in conjunction with The Infinite Loop themes. Any opinions and views expressed in the articles are generally those of the underlying author from the source listed, are not necessarily current as of the date of this blog, may change as market or other conditions change, and may differ from views expressed by Ivy Investment Management Company and its associates or affiliates. Actual investments or investment decisions made by Ivy Investment Management Company and its affiliates will not necessarily reflect the views expressed in the articles. These articles are distributed for educational purposes only and are not investment advice or a recommendation to purchase, sell or hold any specific security mentioned in the article or to engage in any investment strategy. Investment decisions should always be made based on each investor’s specific financial needs, objectives, goals, time horizon and risk tolerance. Securities discussed may not be suitable for all investors.