In 2018, Largo Resources benefited from a period of strong vanadium prices
which helped it to achieve revenues of $521.4 million in 2018, compared with $167.7 million in 2017. That 211% year-on-year increase led to the company’s highest-ever annual revenue.
Ferro-vanadium prices in the Chinese and European markets both hit all-time highs last year, partly due to an expected increase in demand arising from the implementation of new rebar manufacturing standards in China on November 1.
But prices began to drop sharply late last year, when market participants realized that enforcement...