Vanadium Prices

Vanadium Price Trend, Index and Forecast

Track the latest insights on vanadium price trend and forecast with detailed analysis of regional fluctuations and market dynamics across North America, Latin America, Central Europe, Western Europe, Eastern Europe, Middle East, North Africa, West Africa, Central and Southern Africa, Central Asia, Southeast Asia, South Asia, East Asia, and Oceania.

Vanadium Prices Outlook Q2 2025

• USA: US$ 9584/MT
• China: US$ 8655/MT
• India: US$ 12874/MT
• Canada: US$ 11200/MT
• Netherlands: US$ 13355/MT

Vanadium Price Chart

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During the second quarter of 2025, the vanadium prices in the USA reached 9584 USD/MT in June. As per the vanadium price chart, prices in the United States experienced upward pressure, influenced by a combination of domestic demand, global supply constraints, and shifts in energy storage technologies. The growing adoption of vanadium redox flow batteries (VRFBs) for large-scale energy storage applications contributed to increased demand for high-purity vanadium.

During the second quarter of 2025, the vanadium prices in China reached 8655 USD/MT in June. The demand for vanadium remained strong, particularly due to its increased use in high-strength steel production (rebar standards) and the growing adoption of vanadium redox flow batteries (VRFBs) for energy storage. This consistent demand helped support prices, especially as China’s steel sector continued to implement more stringent requirements for rebar strength.

During the second quarter of 2025, vanadium prices in India reached 12874 USD/MT in June. India's steel industry remained a significant consumer of vanadium, primarily used as an alloying agent to enhance strength and durability. The country's commitment to infrastructure development and urbanization sustained the demand for high-strength steel products, thereby supporting the need for vanadium.

During the second quarter of 2025, the vanadium prices in Canada reached 11200 USD/MT in June. Canada's vanadium prices were influenced by a combination of reduced domestic production and increasing demand from the steel and energy storage sectors, setting the stage for a tighter market and potential price hikes.

During the second quarter of 2025, the vanadium prices in the Netherlands reached 13355 USD/MT in June. Vanadium prices were influenced by the growing adoption of VRFBs for energy storage, particularly in renewable energy applications. This demand was increased by Europe's shift to sustainable energy sources, which changed the dynamics of the market. Additionally, fluctuating energy prices affected production costs for vanadium processing, contributing to price volatility.

Vanadium Prices Outlook Q1 2025

• USA: US$ 9341/MT
• China: US$ 8978/MT
• India: US$ 13030/MT
• Europe: US$ 11930/MT

During the first quarter of 2025, the vanadium prices in the USA reached 9341 USD/MT (Vanadium Pentoxide) in March. Mining issues, trade policies, and environmental regulations impacted vanadium production and supply, further contributing to price volatility. Besides, the adoption of vanadium redox flow batteries (VRFBs) for large-scale energy storage solutions contributed to increased demand.

During the first quarter of 2025, the vanadium prices in China reached 8978 USD/MT (Vanadium Pentoxide) in March. As evident by the vanadium price chart, changes in Chinese rebar standards influenced prices as it requires steel manufacturers to use more vanadium to meet quality requirements. This additional demand for vanadium contributed to overall pricing trend.

During the first quarter of 2025, the vanadium prices in India reached 13030 USD/MT (Vanadium Pentoxide) in March. The overall market in India seemed to be in a state of equilibrium, with neither significant demand nor supply shocks causing prices to go up or down drastically. Demand for ferro vanadium from steel mills was reportedly weak, leading to limited buying activity and suppressing price trend. 

During the first quarter of 2025, the vanadium prices in Europe reached 11930 USD/MT (Vanadium Pentoxide) in March. The growing adoption of vanadium redox flow batteries (VRFBs) for energy storage, especially in renewable energy applications, increased demand for high-purity vanadium. Europe's transition towards sustainable energy sources amplified this demand, influencing market dynamics. ​

Vanadium Prices Outlook Q4 2024

• USA: US$ 9176/MT
• China: US$ 11347/MT

During the last quarter of 2024, the vanadium prices in the USA reached 9176 USD/MT (H2 2024 Avg Price) (Vanadium Pentoxide) in December. As per the vanadium price chart, the prices slightly decreased by around 0.47% compared to the same quarter of last year. The rising need for large-scale energy storage devices called vanadium redox flow batteries (VRFBs) is influencing the prices in the country. Moreover, infrastructure development projects also played a role in driving vanadium prices and demand.

In Q4 2024, the vanadium prices in China reached 11347 USD/MT (H2 2024 Avg Price) (Vanadium Pentoxide) in December. As per the vanadium price chart, prices witnessed an increase of 6.24% from December 2023. Inflated output at large mines and enhanced efficiency were the main drivers of China's vanadium production rebound. Moreover, China's imports of vanadium varied, further influencing the prices.

Vanadium Prices Outlook Q4 2023

• USA: US$ 9220/MT
• China: US$ 10680/MT

The average price for vanadium in the third and fourth quarter of 2023 reached 9220 USD/MT in the United States.

Similarly, in China, the prices for vanadium touched an average of 10680 USD/MT in the third and fourth quarter of 2023.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the vanadium prices.

Global Vanadium Price Trend

The report offers a holistic view of the global vanadium pricing trends in the form of vanadium price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of vanadium, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed vanadium demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Vanadium Price Trend

Q2 2025:

As per the vanadium price index, prices in Europe experienced moderate fluctuations, influenced by a combination of supply constraints, evolving demand dynamics, and geopolitical factors. European vanadium prices witnessed a gradual increase, supported by rising demand for vanadium redox flow batteries (VRFBs) in renewable energy storage applications. This demand was amplified by Europe's shift toward sustainable energy sources, which altered market dynamics. Besides, the geopolitical landscape had a direct effect on the international vanadium market, impacting raw material supply and supply channels.

Q1 2025:

As per the vanadium price index, demand for high-purity vanadium has surged due to the rising use of vanadium redox flow batteries (VRFBs) for energy storage, particularly in renewable energy applications. This demand was increased by Europe's shift to sustainable energy sources, which changed the dynamics of the market. Besides, Europe's stringent environmental regulations and the push for sustainable materials influenced vanadium production processes and costs. Additionally, fluctuating energy prices in Europe affected production costs for vanadium processing, contributing to price volatility. ​

Q4 2024:

In Q4 2024, European vanadium production, particularly in countries like Norway and Sweden, experienced fluctuations due to changes in demand and supply thus impacting on the prices. Moreover, as Europe transitions away from fossil fuels, VRFBs are becoming increasingly important, driving up the demand for vanadium. Moreover, producers and traders managed their inventories cautiously, responding to changes in demand and market conditions.

Q4 2023:

Europe's vanadium pricing trends are deeply affected by its stringent environmental regulations and the push towards sustainable and recycled materials. The automotive and aerospace industries in Europe, which demand high-quality specialty metals, further complicate the pricing landscape. Energy costs and the availability of renewable energy sources also significantly influence vanadium production costs. Additionally, the region's dependency on vanadium imports, coupled with fluctuating currency values, adds another layer of complexity to understanding price trends in this market.

Detailed price information for vanadium can also be provided for an extensive list of European countries.

North America Vanadium Price Trend

Q2 2025:

North America's vanadium production remained limited. This reliance on secondary sources, such as spent catalysts and slag from steel production, contributed to supply constraints. The steel industry continued to be the dominant consumer of vanadium in North America, utilizing it as an alloying agent to enhance the strength and durability of steel products. Geopolitical uncertainties, including trade tensions and sanctions, also impacted the vanadium market. These factors led to price volatility as market participants adjusted to shifting supply and demand dynamics. Despite these challenges, the strategic importance of vanadium in critical industries, such as defense and energy storage, underscored its value in the North American market.

Q1 2025:

The rising tensions between the US and China created uncertainty and volatility market. These tensions disrupted supply chains, led to price fluctuations, and prompted policymakers to focus on diversifying and securing alternative supply sources. Besides, changes in trade policies, such as tariffs or trade restrictions, disrupted supply chains and affected prices.

Q4 2024:

In Q4 2024, the United States vanadium production experienced fluctuations due to changes in demand and supply, particularly from major producers. Besides, significant growth in the construction sector of Canada led to an increased demand for vanadium used in steel production, which further influenced the prices. This, coupled with the rising infrastructure development projects, is affecting the prices for vanadium-enhanced steel.

Q4 2023:

In North America, vanadium prices are closely tied to technological advancements in extraction and processing techniques, which aim to reduce costs and enhance efficiency. The region's emphasis on defense and technology sectors, which require precise and high-grade metals, drives demand variability. Furthermore, trade policies, particularly those involving major trade partners like Canada and Mexico, heavily influence vanadium supply chains and pricing structures. The shift towards green energy and electric vehicles in North America also affects demand patterns for metals.

Specific vanadium historical data within the United States and Canada can also be provided.

Middle East and Africa Vanadium Price Trend

Q2 2025:

The report explores the vanadium trends and vanadium price chart in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Q4 2024:

The report explores the vanadium pricing trends and vanadium price index in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Q4 2023:

The vanadium pricing trends in the Middle East and Africa are increasingly impacted by infrastructural developments and investments in the construction and transportation sectors. The region’s political climate and its effect on operational stability and security are also crucial in determining price trends. Additionally, the Middle East's strategic initiatives to diversify away from oil dependency and invest in mining and metal production capabilities are reshaping its market dynamics. In Africa, the availability of resources combined with foreign investment in mining projects heavily influences local and global vanadium supply and prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Vanadium Price Trend

Q2 2025:

China, the dominant global producer of vanadium, faced fluctuations in output during Q2 2025. Besides, China's implementation of stricter rebar standards necessitated higher vanadium content in steel production, thereby increasing consumption. Moreover, the adoption of vanadium redox flow batteries (VRFBs) for large-scale energy storage solutions gained momentum, particularly in renewable energy sectors, as these batteries' long-duration storage capabilities made them suitable for grid-scale applications, driving demand for high-purity vanadium.

Q1 2025:

China's government actively promoted vanadium redox flow batteries (VRFBs) as a key technology for energy storage, particularly for grid-scale applications. Besides, Chinese rebar standards have been modified, requiring higher vanadium content in steel. This change in standards increases the demand for vanadium in the steel industry, further contributing to the overall demand surge. Trade policies and import-export tariffs in the Asia Pacific region also impacted the cost and availability of vanadium, adding another layer of complexity to price trends. 

Q4 2024:

In Q4 2024, one of the biggest producers of vanadium in the world, China, had variations in output as a result of shifting mining practices, environmental laws, and governmental policies. Moreover, the Asia Pacific region's infrastructure development projects, such as China's Belt and Road Initiative, required high-strength, durable materials like vanadium-enhanced steel thus impacting the prices.

Q4 2023:

In the Asia Pacific region, vanadium pricing dynamics are significantly influenced by robust industrial growth and expanding manufacturing sectors, particularly in China and India. The region's high demand for metals is driven by its active construction industry and increasing investments in infrastructure projects. However, supply disruptions due to geopolitical tensions and regulatory changes in mining practices also play a critical role in shaping price fluctuations. Additionally, trade policies and import-export tariffs continue to impact the cost structures and availability of vanadium, making the Asia Pacific market a complex environment for price trend analysis.

This vanadium price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Vanadium Price Trend

Q2 2025:

Latin America's vanadium market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in vanadium prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, the vanadium price index, economic fluctuations, and currency devaluation are critical factors that need to be considered when analyzing vanadium pricing trends in this region.

Q4 2024:

Latin America's vanadium market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in vanadium prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, the vanadium price index, economic fluctuations, and currency devaluation are critical factors that need to be considered when analyzing vanadium pricing trends in this region.

Q4 2023:

Latin America's vanadium market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in vanadium prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, economic fluctuations and currency devaluation are critical factors that need to be considered when analyzing vanadium pricing trends in this region.

This comprehensive review can be extended to include specific countries within Latin America.

Vanadium Price Trend, Market Analysis, and News

IMARC's latest publication, “Vanadium Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” presents a detailed examination of the vanadium market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of vanadium at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents detailed vanadium prices trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting vanadium pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Vanadium Industry Analysis

The global vanadium market size reached 103.1 Thousand Tons in 2024. By 2033, IMARC Group expects the market to reach 135.7 Thousand Tons, at a projected CAGR of 2.95% during 2025-2033.

• The increasing importance of vanadium in the steel industry is one of the major factors driving market growth. This metal is an essential alloying element that is used to improve strength, toughness, and wear resistance of steel. There is a growing demand for high-strength steel in the construction, automotive, and aerospace sectors, which is heightening the need for this metal. The market for steel is growing at a rapid pace of 3.3% annually. It is also expected to touch US$ 1,279 billion by 2032. High-strength steel is crucial for building infrastructure that can withstand extreme conditions, as well as for manufacturing lighter and more fuel-efficient vehicles, which helps reduce greenhouse gas (GHG) emissions.
• The creation of advanced energy storage solutions, like vanadium redox flow batteries (VRFBs), is another important driver for the market growth. China’s researchers at the Dalian Institute of Chemical Physics (DICP) developed a 70 kW-level vanadium flow battery stack in January 2024. This newly designed stack is available at 40% below the current 30 kW-level stacks in terms of costs on account of its volume power density of 130 kW/m3. VRFBs are gaining popularity due to their scalability, long cycle life, and ability to provide stable and reliable energy storage for renewable energy sources like solar and wind. These batteries help in mitigating the intermittent nature of renewable energy, thus facilitating a more consistent power supply.
• This metal is also being used in the aerospace and defense sectors due to heightened investments in advanced materials and technologies. Vanadium alloys offer high strength-to-weight ratio, corrosion resistance, and ability to withstand extreme temperatures. These properties are essential for manufacturing aircraft components, missile casings, and other high-performance defense equipment. As countries continue to invest in their defense capabilities, the demand for vanadium is expected to surge. For example, in 2023-24, the Indian defense sector added capital of Rs 5.94 lakh crore, a jump of 13% over the previous year. Along with India, China also raised its allocation of budget in the defense sector by 7.2% for 2024, which sums up to 1.67 trillion yuan in Chinese currency. These allotments in budgets hike the need for vanadium in new and existing aircraft and defense components.
• Infrastructure development in emerging economies is a key factor that is driving this market. Governments and private sectors are investing in constructing bridges, tunnels, high-rise buildings, and transportation networks, which require high-strength, durable materials. For instance, In the US, more than $350 billion has been announced in the Bipartisan Infrastructure Law (BIL) funding through October 2023. Among which, $9.8 billion has been allocated to passenger and freight rail, $7.8 billion for airports, $174.7 billion for roads, bridges, and major projects, $34.1 for public transportation, and $5.9 billion for ports and waterways, boosting the demand for non-woven fabrics. Vanadium-enhanced steel provides the necessary strength and durability for these projects, ensuring long-lasting and safe infrastructure.

Vanadium News

The report covers the latest developments, updates, and trends impacting the global vanadium industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in vanadium production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the vanadium price trend.

Latest developments in the vanadium industry:

• In May 2024, Vanadium producer Bushveld Minerals announced that the company will sell its Vanchem Processing Plant in South Africa to Southern Point Resources Fund (SPR) for up to $40.6 million, in a bet to ease financial concerns. The transaction comprises an initial consideration of $20.6 million and a deferred consideration of between $15 million and $20 million.
• In May 2024, Australian Vanadium Limited (AVL) released a statement in which it said that the company has reached the final milestone in works under the Australian Government’s $3.69 million Modern Manufacturing Initiative grant. The grant was awarded to support the design and construction of the AVL’s vanadium electrolyte manufacturing facility in Perth, which s successfully produced its first high purity vanadium electrolyte.

Product Description

Vanadium is a transition metal known for its impressive strength and resistance to corrosion. It occurs naturally in about 65 different minerals and fossil fuel deposits. It is available in various types, including vanadium pentoxide (V₂O₅), vanadium trioxide (V₂O₃), and ferrovanadium. This metal exhibits unique properties, such as high melting point, excellent corrosion resistance, and the ability to form stable compounds. It finds applications in steel alloys, aerospace engineering, manufacturing tools and machinery, nuclear reactors, batteries, pigments, glass coatings, and ceramics.

This metal aids in enhancing the mechanical properties of steel, extending the lifespan of tools and machinery, improving the efficiency of batteries, and reducing environmental impacts through cleaner energy storage. Moreover, it is lauded for its durability, energy efficiency, cost-effectiveness, versatility in applications, and contributions to sustainable technologies.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of vanadium pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
• The study examines factors affecting vanadium price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The vanadium price charts ensure our clients remain at the forefront of the industry.