Review of Tantalum and Key Metals — 19 October 2026

Published: Oct 19, 2026 15:06 (GMT+8)

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[SMM Daily Review] China Market: Today’s SMM 30% tantalum ore CIF China assessment is US$241–246/lb, averaging US$243.50/lb, unchanged from the previous assessment. Also 99.5% tantalum pentoxide FOB at US$640–650/kg, averaging US$645/kg, and 99.99% tantalum pentoxide FOB at US$670–680/kg, averaging US$675/kg; both averages are unchanged. These FOB quotations refer to refined oxide, whereas the CIF quotation refers to ore, so their levels are not directly comparable.

African Market: An East African seller indication quotes US$32,000 per tonne of coltan ore grading at least 32% Ta₂O₅, with a stated potential supply of 21 tonnes or more per month. This is a single asking price, not a reported sale or an African market assessment. The seller has stock in Tanzania, but the material’s availability, origin and assay have not been independently verified. The correspondence mentions FOB Dar es Salaam port.

Tantalum Industry News: Industry research estimates the global tantalum concentrate market at US$617 million in 2025 and forecasts US$880 million by 2032, implying approximately 5.3% annual growth. These are estimates and projections, not measured changes in African production or transactions today.

Outlook: Outlook: African supply remains central to the tantalum market. Conflict or delays in bringing new projects into production could keep ore availability tight, while verified new output, recycling and more efficient material use could ease pressure over time. Several African projects target commissioning or expansion between 2027 and 2030, but their planned capacity is not yet saleable production. Near-term pricing will depend on how much traceable, assayed material reaches buyers and whether those projects meet their milestones.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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