Chinese vanadium pentoxide (V2O5) pricing entered the second week of November 2026 with almost no movement, keeping the dominant cost input for vanadium redox flow battery (VRFB) electrolyte inside a narrow band. SunSirs (生意社) set its V2O5 benchmark at 97,833.33 yuan/tonne on 9 November 2026, unchanged from the 6 November benchmark and 0.09% below the 97,916.67 yuan/tonne recorded at the start of the month. The daily change on 6 November was 0.00%.
A compressed twelve-month range
Over the trailing year (6 November 2025 to 6 November 2026) the benchmark traded in the mid-to-low part of a tight corridor: a minimum of 96,583.33 yuan/t, a maximum of 99,866.67 yuan/t, a median of 98,225 yuan/t and an average of 97,963.48 yuan/t. That is a high-low spread of roughly 3.4% — an unusually flat backdrop for a commodity with a history of sharp swings. The current level sits about 2,033 yuan/t below the twelve-month high and roughly 1,250 yuan/t above the low.
A gentle slide, not a break
Daily benchmark prints describe a slow drift lower rather than a correction: 98,666.67 yuan/t on 22 and 23 October, 98,583.33 yuan/t on 27 and 28 October, 97,916.67 yuan/t on 29 and 30 October and 2–4 November, then 97,833.33 yuan/t on 5, 6 and 9 November. That is a decline of about 833 yuan/t, or 0.8%, across the period.
Momentum indicator flips negative
SunSirs' reported spread between its moving average line and the benchmark price moved from +442.50 yuan/t on 22 October to +371.67 yuan/t on 26 October, crossed below zero at -76.67 yuan/t on 30 October, widened to -262.50 yuan/t on 2 November and reached -445.84 yuan/t on 7 November.
The shift from a positive to a negative average-versus-benchmark spread points to weakening short-term vanadium momentum, even as the absolute price stays range-bound.
Read-through for VRFB electrolyte
Because electrolyte is the single largest cost element in a four-hour VRFB system, a flat V2O5 tape is constructive for project economics: it removes the spike risk that makes long-duration storage contracts difficult to price over 15–20 year horizons. SunSirs has published daily enterprise-level V2O5 quote reports continuously from 21 October through 9 November 2026, giving electrolyte buyers a dense price-discovery record to benchmark supply agreements against.
This article was assisted by AI analysis. Please refer to the original source for official information.