Ferrovanadium is an alloy of vanadium and iron.Mainly used as a secondary raw material in steelmaking to improve the strength, toughness, and heat resistance of steel.Subject to national stockpile (60 days).Most of the ferrovanadium consumed in our country comes from South Africa.World production of vanadium was approximately 86,000 tons in 2020, with China, Russia, and South Africa producing most of the vanadium.In contrast, Japan imports 2,360 tons, 98% in the form of ferrovanadium and oxides (vanadium pentoxide).The recycling recovery rate of vanadium has been increasing in recent years, and was about 20% in 2020.It is revised once a week after hearing from handling companies, trading companies, traders, and users.