SunSirs' benchmark price for vanadium pentoxide (V2O5) in the Chinese market was assessed at 97,916.67 yuan per tonne on 3 November 2026, unchanged from the 2 November benchmark of 97,916.67 yuan per tonne, according to commodity data published by the 100ppi.com (生意社) monitoring service.
The flat print extends a plateau that began on 30 October, when the benchmark first settled at 97,916.67 yuan per tonne. Because V2O5 is the primary feedstock for the vanadium electrolyte that fills vanadium redox flow battery (VRFB) tanks, the level of the benchmark feeds directly into electrolyte cost discussions for developers and asset owners negotiating multi-year supply contracts.
An uneven decline through October
The stability at the start of November follows a month of erosion. SunSirs benchmarks for late October show 99,666.67 yuan per tonne on 20 and 21 October, 98,666.67 yuan per tonne on 22 and 23 October, 98,583.33 yuan per tonne on 27 and 28 October, 98,416.67 yuan per tonne on 16 and 19 October and 98,250.00 yuan per tonne on 15 October, before the market settled at 97,916.67 yuan per tonne from 30 October.
Measured against the 20-21 October level, the benchmark has given up 1,750 yuan per tonne, a decline of roughly 1.8%.
Momentum indicator flips negative
SunSirs also tracks the average spread (均差) between spot prices and their moving average — a momentum signal that turns negative when short-term prices fall below the trend line. That spread stood at positive 442.50 yuan per tonne on 22 October and was shifting from widening to narrowing; by 26 October it had eased to positive 371.67 yuan per tonne and was narrowing. It crossed below zero on 30 October at -76.67 yuan per tonne and had widened to -262.50 yuan per tonne by 2 November.
SunSirs average spread timeline: +442.50 yuan/t (22 Oct) → +371.67 yuan/t (26 Oct) → -76.67 yuan/t (30 Oct) → -262.50 yuan/t (2 Nov).
Reading the signal for VRFB procurement
A widening negative spread indicates that short-term V2O5 prices are trading below the moving average, i.e. downward momentum in the vanadium feedstock. For VRFB procurement teams, a softer feedstock tape is generally supportive of electrolyte pricing, although electrolyte contracts typically lag spot vanadium and are often struck against a reference period rather than a single day's print. SunSirs has continued to publish its daily V2O5 commodity quote dynamics (企业报价) reports through early November, tracking daily spot quotations across the Chinese market on 2 and 3 November and throughout late October.
For the flow battery industry, the key question is whether the 97,916.67 yuan per tonne level holds as a floor or proves to be a pause before further softening.
This article was assisted by AI analysis. Please refer to the original source for official information.