Wednesday, September 09, 2015 3:45:33 PM
16,000 workers were given buyouts. The one interviewed received 6 years pay, which I find incredible and possibly suggests the government considered that these workers will likely not find other sustainable work, which may suggest more closures. It will take more than one factory shut down for China to have their desired effect.
I read elsewhere that this was the largest Vanadium producer in China, 2nd largest in the world. 18% of the world supply. This has to impact V2O5 prices eventually.
I would imagine even though they shutdown there may be stockpiles that need to be sold off.
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