The Dalian battery (which is huge I admit) but built for the purpose where VRB shines is said to need around 8kt of V2O5. 6-8% of current supply. 1 battery a year could shift the current market from balanced to under supplied very easily.
I think the key is that steel demand is relatively stable and underpins demand. With a heap of infra still to happen in China and India and other developing nations it alone should support at least a $10-15/lb price point in the MT to LT. VRB's are the wild card and their mass adoption could depend on how quick V prices come back down.
This is why AVL is at a crucial juncture. They need to use current market conditions to get funded (even if they don't ever see these prices) as their opex makes them still a good earner back in the low double figures, but not quite as exciting from a funding position.
The Dalian battery (which is huge I admit) but built for the...
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