Resolves YES if the trailing twelve months (TTM) average price of tantalum concentrate imports, reported in USD per pound, exceeds $170 on May 1, 2026. Resolution will use official price data from industry sources such as Metal Bulletin or London Metal Exchange published on or immediately before the settlement date. Given ongoing supply disruptions in the DRC and Rwanda alongside strong capacitor demand, prices have surged recently and are expected to remain elevated near this threshold. The market excludes prices for refined tantalum metal or alloy products and focuses solely on concentrate import prices. This threshold reflects a price near current market tightness and substitution cost levels, making it a critical indicator of supply chain stress and substitution pressures.

Tantalum concentrate prices are surging due to increased capacitor demand and supply disruptions from DRC and Rwanda. As market tightness persists, prices are expected to continue rising in the near term.

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