South Africa’s Highveld Steel and Vanadium (Hiveld, HVL) on Friday soared to an all-time high of R63,50 per share on the JSE Securities Exchange SA due to the shortage in vanadium metal, which has seen the price of the commodity rocket.
At 1.25pm, Hiveld was quoted at R62,50 per share, up 7,8% or R4,50 from its previous close of R58.
“Hiveld’s shares are up on the strong increase in the vanadium price, which has gone through the roof. Hiveld is one of the world’s largest producers of vanadium, with South Africa and China the world’s largest producing countries,” an analyst said.
“I see more upside to Hiveld’s share price, as vanadium prices are likely to continue higher,” he added. Global resources group Anglo American has an 80,2% stake in Hiveld. At 1.25pm, Anglo was quoted at R146,32, up 32c or 0,2% from its previous close. — I-Net Bridge