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Vanadium Price Today
Last updated: April 30, 2026 at 10:00 AM EDT ET · Source: COMEX / LBMA
Calculate Vanadium Value
1 Grams (g) of Vanadium
$835.92
Spot price: $26,000.00/oz
Rate: 1 USD = 1 USD
Approximate value - excludes taxes, premiums
Exchange rates are indicative. Actual buy/sell prices include dealer premiums. Not financial advice.
Price by Weight
| Unit | USD Price |
|---|---|
| Troy Ounce (oz t) | $26,000.00 |
| Gram (g) | $835.92 |
| Kilogram (kg) | $835,918.79 |
| Tola (10g) | $8,359.19 |
| Pennyweight (dwt) | $1,300.00 |
Price by Currency (per troy oz)
| Currency | Price |
|---|---|
| 🇺🇸USD | $26,000.00 |
| 🇨🇦CAD | CA$35,360.00 |
| 🇪🇺EUR | €23,920.00 |
| 🇬🇧GBP | £20,540.00 |
| 🇦🇺AUD | A$40,040.00 |
| 🇨🇭CHF | Fr23,400.00 |
| 🇯🇵JPY | ¥3,991,000 |
| 🇮🇳INR | ₹2,168,400 |
Exchange rates are approximate. Source: COMEX / LBMA
About Vanadium
Vanadium is emerging as the grid battery metal of the future. While most energy storage discussion focuses on lithium-ion batteries, vanadium redox flow batteries (VRFBs) are gaining traction for large-scale, long-duration grid storage — the type of storage needed to balance renewable energy grids over hours or days rather than minutes. VRFBs use vanadium dissolved in sulfuric acid as both the positive and negative electrolyte, enabling virtually unlimited cycle life and the ability to scale energy and power independently.
However, steel alloys remain vanadium's largest application, accounting for roughly 85% of current demand. Vanadium is added to steel in tiny quantities (0.1% or less) to dramatically increase strength, toughness, and weldability. Vanadium steel is used in high-strength rebar for construction, automotive components, pipelines, and tool steels. China's 2018 mandate increasing rebar vanadium content caused a sharp price spike that demonstrated steel's dominant influence on vanadium demand.
China and Russia dominate global vanadium supply. China is the world's largest producer, primarily recovering vanadium from steel slag as a byproduct. Russia's EVRAZ recovers vanadium from Siberian iron ore. South Africa is a significant producer (Bushveld Minerals), and Australia has emerging projects. Unlike lithium or cobalt, vanadium is not mined primarily for itself — supply is largely tied to steel production, creating a structural link between steel markets and vanadium availability.
The VRFB market is growing rapidly, supported by grid storage mandates in China, South Korea, Europe, and the US. China has been the most aggressive adopter, installing hundreds of MW of VRFB capacity. If VRFBs capture even a modest share of the projected multi-TWh grid storage market, the resulting vanadium demand could dwarf current steel-driven consumption, fundamentally transforming the market.
Frequently Asked Questions
What is a vanadium redox flow battery?
A vanadium redox flow battery (VRFB) stores energy in two tanks of vanadium electrolyte solution at different oxidation states (V²⁺/V³⁺ and V⁴⁺/V⁵⁺). Energy is released by pumping the electrolytes through a cell stack where electrons flow between them. Unlike lithium-ion batteries, VRFBs can be scaled independently — larger tanks mean more energy storage, larger cell stacks mean more power. This makes them ideal for grid-scale storage ranging from 4 to 12+ hours of duration.
How does China's rebar standard affect vanadium prices?
In November 2018, China raised its rebar strength standard (GB/T 1499), requiring higher-grade steel that typically incorporates vanadium microalloying. This policy shift drove a demand surge that sent vanadium prices spiking from ~$20/kg to over $100/kg in months — one of the sharpest commodity price moves in recent history. The episode demonstrated how a single government policy can dramatically reshape commodity markets when demand is highly concentrated.
What are the main advantages of VRFBs over lithium-ion?
VRFBs offer several advantages for grid storage: near-unlimited cycle life (10,000+ cycles vs 3,000-5,000 for lithium-ion), no capacity degradation over time, no fire risk (aqueous electrolyte vs flammable lithium-ion), electrolyte can be 100% recycled, and independent scaling of energy and power. Their disadvantages are lower energy density (requiring more space) and higher upfront cost per kWh, making them better suited for stationary grid applications than mobile EVs.
Where is vanadium primarily produced?
China produces approximately 60% of world vanadium supply, primarily as a byproduct from processing vanadium-bearing iron ore and from steel slag recovery. Russia's EVRAZ group is a major producer from Siberian ore. South Africa's Bushveld Minerals operates purpose-built vanadium mines. Secondary production from steel slag recovery (particularly in Europe and Japan) accounts for significant supply. Primary vanadium mines are less common than byproduct recovery operations.
Is vanadium a critical mineral?
Yes — the US, EU, Canada, Australia, and other governments have classified vanadium as a critical mineral due to its supply concentration risk and strategic importance for both steel (infrastructure and defense) and energy storage (grid stability). The US Geological Survey lists vanadium on its Critical Minerals List. This classification is driving investment in Western vanadium projects and VRFB deployment programs.