Resolves YES if the official Asian Powdered Tungsten (APT) price, as reported by industry price indexes or major market data providers, is strictly above $15 per metric ton unit (mtu) on May 1, 2026. This market captures the impact of China Jinba Bowen's export suspension on global tungsten supply tightness and pricing. Given the current spot price around $47.5/kg W (equivalent to roughly $475 per mtu), this threshold is set near the expected price level to reflect potential supply disruption effects. Prices must be the official APT price, not secondary or recycled tungsten prices.

The suspension of exports by a major producer like China Jinba Bowen is likely to tighten supply and increase prices globally.

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