The price of vanadium has definitely come off.Vanadium price...

The price of vanadium has definitely come off.

Vanadium price charts are very hard to find and most are behind paywalls but here is a link for one that covers it pretty well.
https://vanadiumprice.com/

Here is a 3 year chart for Vanadium



There has been a similar pull back in the lithium price. I know for lithium it appears that there is some state sponsored funny business going on and it wouldn't be a surprise if vanadium has similar market manipulation happening given where most of it is processed.
https://oilprice.com/Latest-Energy-News/World-News/Lithium-Expert-Says-China-Manipulating-Prices-Downward.html
https://www.theautopian.com/chinas-battery-price-war-is-built-on-a-shocking-assumption-about-lithium-costs-report/

That being said though everybody knows the housing market in china is in shambles and some of the big developers are in over their heads and some have already folded, Their economy is not doing well and I'm guessing one of our biggest markets for the vanadium would be going back into structural steel that we are getting our slag stockpiles from in the first place so that is probably also having a big impact. "China produced over 1 billion tonnes of crude steel in 2022, 52.9% of the world's total production"

Also with as much promise that VRF battery storage has, I'm not seeing that much of it being started as far as capacity goes. (Disclaimer being I haven't looked into this properly for a while, but all the big stationary storage projects that I have heard about recently in Aus have been other designs and chemistries.)