On October 16, Evraz Group S.A., a major steel mill in Russia announced its production volume in the period from July to September in 2014.

The production volume of vanadium in slag in the period from July to September was 5,799 tons (in pure element equivalent), which represented an increase of 7.1% versus the prior period and a drastic increase of 20.6% versus the year-earlier period. On the other hand, the production volume of ferro-vanadium was 3,277 tons (in pure element equivalent), which represented a decrease of 8.7% versus the prior period and a decrease of 5.4% versus the year-earlier period.

The reason for the increased production of vanadium in slag as compared with the prior period is because Nizhny Tagil Iron & Steel Works (NTMK), Russia had a maintenance work on its converter in May and the production of vanadium in slag was down, but the production in the period from July to September was up with its rebound.

The production of ferro-vanadium was down from the prior period as well as the year-earlier period, whose reason is because (1) The supply of vanadium pentoxide (V2O5) from EVRAZ Vanady Tula was not enough, and moreover the production facilities for vanadium pentoxide at this plant was under repair, which led to EVRAZ's production itself also being at a low level like representing a decrease of 10% versus the prior period and a decrease of 6% versus the year-earlier period, and (2) Third party's production was down due to decreased supply of slag from Highveld plant, which represented a decrease of 8% versus the prior period and a decrease of 5% versus the year-earlier period.

• [Editor:Mango]