The U.S. has launched a third national security import investigation in as many months, this time covering vanadium used manufacturing for the aerospace sector. Imports have already been in a marked decline, however, with shipments from South and North America down by 36.8% and 10.1% respectively in 2019 versus their 2018 peaks. Shipments in the three months to April 30 are also down by 80.2% in the case of South American supplies due to COVID-19 related demand reductions. AMG Vanadium, one of the requestors for the investigation, and Elkem source materials from outside the U.S. and so m...