Itss turning out to be a great year for minor metals.
Rechargeable-battery ingredient cobalt has gained 83 per cent, while ruthenium, used in the chemical industry and electronics, is up 63 per cent. The latest star is vanadium, an obscure silvery-grey metal thought to have been used to harden steel as far back as the Crusades.
The metal, which is also used in energy-storage batteries, has surged 67 per cent since mid-July, according to Metal Bulletin data.
Much of vanadiums 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 lead to a 30 per cent increase, according to VTB Capital and SP Angel research. The new standard is expected to be announced in September. Â
There are fundamental supply and demand issues that have driven the re-rating.That  said Julian Treger, chief executive officer of Anglo Pacific Group Plc, which owns vanadium royalties. Prices could go much higher
TMT Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held