Uncovering the evolution of vanadium cycle in China during 2000–2022

Vanadium has been classified as one critical metal by multiple countries. China has the largest vanadium reserve and production capacity in the world and plays a vital role in the global vanadium supply chain. This study aims to uncover China’s vanadium cycle and market features for the period of 2000–2022 by applying dynamic material flow analysis method. The results show that the supply of vanadium had increased more than tenfold from 2000 to 2022, with an accumulated amount of 856 Kt. The majority of vanadium were used for meeting with the domestic demand (679 Kt). Vanadium-containing steel alloys dominated the largest share (87%), while the demand for vanadium redox flow battery increased rapidly, with an average annual growth rate of 21%. Secondary vanadium resources were predominantly recovered from the slags generated from the production stage, with a smaller share from the old scraps collected from end-of-life vanadium-containing products. China mainly imported primary vanadium resources from developing countries and exported intermediate products to developed countries. However, vanadium trade was seriously disrupted by the global financial crisis in 2008 and the recent COVID-19 pandemic. Several policies are proposed to promote stable supply and sustainable utilization of vanadium resources from the perspectives of economic incentives, technological development, industrial adjustment, trade structure and strategic reserve. • China’s vanadium cycle is uncovered by applying dynamic material flow analysis. • China has the largest vanadium reserve and production capacity in the world. • China’s vanadium supply has increased more than tenfold from 2000 to 2022. • The demand for vanadium redox flow battery has been increasing rapidly. • Strategic vanadium reserve is necessary to maintain vanadium resource security.