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Largo Resources Applauds China's New Rebar Standard And Central Government's Special Action to Cut Down "Substandard Steels"
Largo Resources Applauds China's New Rebar Standard And Central Government's Special Actio...
About this update from Largo Inc.
[{"type":"text","content":"\n\n\n\nLargo Resources Applauds China's New Rebar Standard And Central Government's Special Action to Cut Down \"Substandard Steels\"\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Feb. 12, 2018\n\n\n\nTORONTO, Feb. 12, 2018 /CNW/ - Largo Resources Ltd. (\"Largo\" or the \"Company\") announces its support for the new rebar standard announced on February 9, 2018 by the Standardization Administration for the People's Republic of China.  This announcement also includes a special action to cut down on the use of all substandard steels in China. The new rebar standard and related action is expected to be implemented by November 2018. \n\nMr. Mark Smith, Chief Executive Officer of Largo stated: \"The revised rebar standard will enhance the quality of rebar being used in China, which will in-turn allow China to build earthquake resistant homes and industrial capacity in the most efficient manner in terms of energy and raw material consumption and pollution generation. High strength low alloy vanadium steels are the most efficient material available for the development of the infrastructure necessary in order to create economic opportunity for the approximately two thirds of the earth's population living in developing economies.\"\n\nToday China produces approximately 200 million metric tons of rebar per year.  Typical vanadium content in grade 3 rebar is 0.3 kilograms of vanadium per metric ton of steel.  While it is difficult to quantify the impact of the new standard in the short term, the target for the Chinese steel industry is to produce 70% of this rebar to meet the grade 3 standard.\n\nReported in a recent Bloomberg.com article, analysts at BMO Capital Markets note that while vanadium had an exceptional past year as prices soared by more 130% due to tightened supply, stricter steel regulations in China and strong orders from the steel industry, there is still opportunity for additional uses of the metal in the form of industrial-scale batteries. \n\n\n\n\"As the only pure-play producer of vanadium, Largo is directly expos...