Resolves YES if the TTM APT (Ammonium Paratungstate) price in Rotterdam is strictly above $2000 per metric tonne unit on April 1, 2026, based on prices published by industry price reporting agencies such as Metal Bulletin or Fastmarkets. The APT price is a key benchmark reflecting tungsten market supply-demand balance and cost pressures. This threshold is near current market levels, making the outcome uncertain and relevant for producers and consumers assessing pricing trends. Only the official spot price on the settlement date counts; intra-day fluctuations or forward contract prices do not resolve the market.

The APT price is a critical benchmark for tungsten market dynamics; fluctuations affect both producers and consumers.

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