What is the industrial chain of the ferrovanadium industry?
The upstream is mainly vanadium ore resources, including vanadium-titanium magnetite, shale ore and stone coal and other vanadium-containing ores. China is one of the countries with the richest vanadium ore reserves in the world, mainly concentrated in Sichuan, Hunan, Anhui, Guangxi, Hubei, Gansu and other provinces. This link mainly involves the exploration, mining and processing of vanadium ore, providing raw materials for the production of midstream vanadium products.

The midstream is a vanadium product manufacturing enterprise, which mainly processes upstream vanadium ore into various vanadium products, such as vanadium pentoxide, ferrovanadium, etc. China is the world's largest producer of vanadium products, with many large vanadium product manufacturers, such as Pangang Vanadium Titanium, Hegang Chengde, etc. These companies not only occupy an important position in the domestic market, but also actively export vanadium products to the international market.

The downstream is mainly the application field of vanadium products, including steel, titanium alloy, electrochemical energy storage, etc. The steel industry is the largest application field of vanadium products, accounting for about 90% of global vanadium consumption. In steel, vanadium is mainly used to refine grains, increase the strength and toughness of steel, and improve the wear resistance and service life of steel. In addition, vanadium is also widely used in titanium alloy production, electrochemical energy storage and other fields. In recent years, with the continuous development of energy storage technologies such as all-vanadium liquid flow batteries, the application of vanadium in the field of energy storage has also gradually increased.