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Demand pushes Evraz FeV production higher in 1st qtr.

Keywords: Tags  Evraz, vanadium slag, ferrovanadium, nitrovan, Vanady-Tula, Nikom

NEW YORK — Russian steelmaker Evraz Plc produced 4,571 tonnes of ferrovanadium in the first quarter, up 14.4 percent from the same period last year.

The company’s ferrovanadium plants in Russia (Vanady-Tula) and the Czech Republic (Nikom) ran at full capacity during the first three months of the year to meet higher demand, according to the company’s first-quarter earnings statement.

Production of oxides, vanadium aluminum and chemicals increased 69.9 percent from a year ago, but Nitrovan output fell 39.6 percent in the same comparison.

Production of vanadium slag, the raw material for most of Evraz’s vanadium products, rose 22.1 percent to 6,026 tonnes during the quarter, primarily due to more-efficient vanadium extraction at the company’s Nizhny Tagil Works (NTMK) plant in Russia.

Sales prices fell across the board, with first-quarter ferrovanadium dropping 18.6 percent from a year earlier to $23,109 per tonne ($10.48 per pound). Nitrovan prices declined 8.2 percent, while oxides, vanadium aluminum and chemicals sold for 17.5 percent less in the same comparison.

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