2019 High Purity Premiums To Increase 345%
The high purity contracts that expire at the end of 2018 are not between Largo and Glencore. They are, in fact, contracts between Glencore and buyers of high purity vanadium. Starting January 1, 2019, Largo's share of high purity premiums will surge by as much as 345% to $1.50-$2.00 per pound. In 2018, Largo's high purity premium was as low $.45 per pound.
Management provided guidance that 50% of Largo's production in 2019 could be sold at the new high purity prices.
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