Resolves YES if the Asian Powdered Tungsten (APT) price, as reported by industry price indexes or major commodity market sources, is strictly above $500 per metric ton unit (mtu) on April 1, 2026. This price reflects tungsten concentrate refined to APT standard. The market context includes China Jinba Bowen's export suspension starting early 2026, tightening global supply amid China's dominant 83% mine share and recent export controls limiting tungsten exports to a small whitelist of firms. The current spot price in January 2026 is around $450-500/mtu, so $500/mtu is near the upper bound of recent prices, making this threshold a meaningful test of supply disruption impact. Only official price publications or widely accepted industry benchmarks count; informal or speculative quotes do not resolve the market.

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

Source: Article