In the second quarter this year, the sales results of Russian mining and steelmaking company Evraz, one of the largest global producers of vanadium products, were significantly affected by the consequences of the Covid-19 pandemic.
Accordingly, its sales of vanadium final products fell by 22.6 percent quarter on quarter to 2.45 million mt, due to lower steel utilization rates as well as reduced vanadium demand in general, following Covid-19 restrictions.
Meanwhile, Evraz's output of vanadium slag in the given period amounted to 5.098 million mt, up 2.4 percent quarter on quarter. Moreover, amid the strong demand in China, the company managed to sell 1.996 million mt of vanadium slag in the second quarter, more than twice the sales volume in the previous quarter.
As a result, in the first half of the current year, Evraz's output of vanadium slag totaled 10.077 million mt, up 12.2 percent year on year. The sales of vanadium slag and vanadium final products in the first half of the current year decreased by 2.6 percent and 2.9 percent year on year to 2.761 million mt and 5.618 million mt, respectively.