Price is a funny thing it’s not always indicative of underlying...

Price is a funny thing it’s not always indicative of underlying value or what’s happening ( take AVL share price for example- ha ha).
Same for vanadium price in China Nothing changed here except a game a musical chairs ( or maybe hot potato?).
To give a generalised quick overview of the production cycle; iron ore is smelted by blast furnaces to pig iron - then smelted again to pure iron and a vanadium slag- slag is onsold to vanadium producers- traders buy vanadium- sell to other traders- onsold to steel mills who produce long bar( rebar)- this then sold to construction industry.
a) Winter period in the north is a time of lower construction, and environmental restrictions for mills.
b) Mills now buying vanadium only contract by contract and not stockpiling.
c) Buyer traders caught in the middle with the hot potato can’t afford to hold and finally forced to accept lower price.
d) Other traders to safeguard profits are then undercutting to reduce risk. Thus a price drop on very low volume.
e) Vanadium producers at record low production rates now. Virtually zero stockpiles. Come January when a) is no longer is in play and traders are freed up will have price up again.