Panzhihua Steel Group produced 10,000 tons of vanadium in 2004 becoming the largest vanadium production base in China and the second largest vanadium producer in the world. China has become the world's second largest vanadium producer.

According to Zhou Jiacong, deputy general manager of Panzhihua Steel, the world produces about 70,000 tons of vanadium each year. China accounts for 16.500 tons, of which 10,000 tons are produced by Panzhihua Steel. The company takes up 80 percent of domestic market and 20 percent of international market. Its turnout is the largest in China and the second largest in the world. China has changed from a vanadium importer into the largest producer second only to South Africa. Its products have been sold to places as far as the US, Japan and Europe.

By People's Daily Online