Vanadium — Structural brief

Where vanadium is produced

China is the largest producer of vanadium, at 72.4 percent of the published world total in 2025^[1]. It is followed by Russia at 18.5 percent, Brazil at 4.7 percent and South Africa at 4.4 percent. The USGS puts world production at 110,000 metric tons; the sum of the country figures is 113,300 metric tons, the difference being rounding in the published total.^[1] Reserves are held principally by Australia (10,000 metric tons), China (5,800 metric tons), Russia (5,000 metric tons)^[1]. The largest reserve holder is not the largest producer, which is the usual sign that the constraint is capital and permitting rather than geology.

How concentrated supply is

Measured by the Herfindahl-Hirschman index over production shares, vanadium supply is highly concentrated, with an index of 5,623. The top three producers hold 95.6 percent of output, and a single producer accounts for more than half of supply. An index below 1,500 is conventionally read as unconcentrated and above 2,500 as highly concentrated; the thresholds are the United States merger-review bands, used here as a published reference point rather than as a judgement about market conduct. The United States was 41 percent reliant on net imports for vanadium in 2025, with the principal import sources over 2021–24 being Canada, Brazil, South Africa, Austria.^[2] The principal sources of United States imports over 2021–24 were Canada (34 percent), Brazil (13 percent) and South Africa (13 percent)^[3].

Trade measures in force

The USGS compilation of export controls effective January 2026 records no measure specific to vanadium. That is a statement about the compiled list, not a guarantee of open trade: measures framed around ores and concentrates generally, or around a broader commodity group, can still apply.

Recent United States official notices

Federal Register documents naming vanadium, most recent first. 2025-11-07: Final 2025 List of Critical Minerals. Critical minerals are essential for national security, economic stability, and supply chain resilience because they underpin key industries, drive technological innovation, and support critical infrastructure vital for a modern American economy. The United States is heavily reliant on imports of certain mineral commodities from foreign sources, some of which are at risk of serious, sustained, and long-term supply chain disruptions.^[4]