Ferrovanadium (FeV) is a ferroalloy consisting of iron and vanadium, a hard, silvery gray, ductile and malleable transition metal. It is mainly used to produce specialty steel alloys such as high-speed tool steels that need to provide extra strength and hardness. One of the main producers of ferrovanadium is EVRAZ Nikom, a.s. in the Czech Republic, a member of the EVRAZ Group, one of the largest vertically integrated steel and mining businesses in the world.