US Commerce Department launches Section 232 vanadium probe

The United States Department of Commerce has launched an investigation under Section 232 into whether the current inflow of vanadium imports threatens to impair national security.

The initiation of the investigation came after domestic vanadium producers AMG Vanadium and U.S. Vanadium petitioned Commerce to open an investigation under Section 232 of the Trade Expansion Act of 1962.

The petition contends that the domestic vanadium industry is harmed by low-priced imports, the distortionary effect of Chinese and Russian industrial policies and limited export markets due to value-added tax regimes in other vanadium-producing countries.

“Vanadium is utilized in our national defense and critical infrastructure, and is integral to certain aerospace applications,” US Secretary of Commerce Wilbur Ross said in a release on Tuesday June 2.

US ferro-vanadium prices have been under pressure since late February, which was worsened following Covid-19-related steel mill shutdowns beginning in mid-March.

Fastmarkets’ assessment for ferro-vanadium 70-80%V, in-whs Pittsburgh was $9.95-10.25 per lb on May 28, down 27.5% from a high of $13.60-14.25 per lb on February 20.

Commerce’s Bureau of Industry and Security will conduct the investigation and allow the opportunity for public comment until July 20.

What to read next
Fastmarkets invited feedback from the industry on the pricing methodology for cobalt hydroxide, min 30% Co, inferred, China, $lb, via an open consultation process between May 4 and June 1, 2023. This consultation was done as part of our published annual methodology review process.
Fastmarkets will discontinue its consumer buying price assessments for machine shop turnings in the Cleveland and Pittsburgh markets effective Tuesday June 6.
Fastmarkets has decided to proceed with the launch of a new European low carbon ferro-chrome price covering material with lower chrome content.
Fastmarkets invites feedback on a proposal to increase the publication frequency of non-exchange-deliverable equivalent-grade (EQ) copper cathode premium, cif Shanghai, from once every two weeks to once every week.
The outlook for North American steel scrap prices has headed further into bearish territory ahead of June’s trade, with prices for all grades expected to fall again after a round of across-the-board decreases in May
Fastmarkets is inviting feedback on a change of publishing time for our ferro-chrome price in the Chinese domestic market as well as ferro-chrome import prices in Japan and South Korea, to 5-6pm Shanghai time from 2-3pm London time.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed