Panzhihua led China among vanadium leaders
Panzhihua Steel Group (Pangang) became the second largest vanadium producer of the world and the largest vanadium producer of China with 10'000 tons of vanadium production in 2004. The company supplied vanadium for 80% of the Chinese market and 20% of the global market; mostly to the US, Japan and Europe. The high production of the company also turned China into the second largest vanadium producer after South Africa, while it was a vanadium importer a few years ago. The global vanadium production reached 70'000 tons per annum, while China produced 16.500 tons in 2004.