1. INTRODUCTION.............. 1

2. MARKET OVERVIEW.............. 4

Table 1: Vanadium Mine Production Worldwide (2015) in Metric Tons of Vanadium Content..............4

Table 2: Vanadium Mine Production by Country Worldwide (2015) - Percentage Share Breakdown by Volume for China, South Africa, and Others.............. 4

Table 3: Vanadium Reserves Worldwide (2015) in Thousand Metric Tons.............. 5

Table 4: Vanadium Reserves by Country Worldwide (2015) - Percentage Share Breakdown by Volume for China, Russia, South Africa, and Others.............. 5

Table 5: Vanadium Market by End Use Segment Worldwide (2015) - Percentage Share Breakdown by Volume for Chemical Catalyst, Steel Alloy, Titanium Alloy, and Others 6

Table 6: Vanadium Market by Application Worldwide (2015) - Percentage Share Breakdown by Volume for Carbon Steel, Full Alloy, High Strength Low Alloy, and Others 7

Table 7: Vanadium Consumption by Sector in China (2015) - Percentage Market Share Breakdown by Volume for Carbon Steel, Chemical Industry, High-Alloy Steel, High-Strength Low-Alloy (HSLA) Steel, Titanium Alloy, Tool Steel, and Others 8