Review of Tantalum and Niobium Market — 29 October 2026

Published: Oct 29, 2026 14:49 (GMT+8)

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Tantalum: Today’s SMM assessment for 30% tantalum ore CIF China is US$241–246/lb, averaging US$243.50/lb, unchanged from the previous assessment. The assessment provides a stable reference for ore delivered to China.

African Market: SMM has launched its Tantalum Ore FOB (East Africa) price assessment, following its announcement on 20 October. The assessment covers ore grading 28–38% Ta₂O₅, with Rwanda and the DRC identified among source locations and delivery defined as FOB Dar es Salaam, Tanzania. It provides a published reference for African export pricing alongside the existing CIF China assessment. The latest displayed East Africa assessment is US$4.50–5.00/kg per degree, averaging US$4.75, dated 29th October 2026, with no change shown from the previous.

African Metals News: Chilwa Minerals reported on 29 October that drilling at Malawi’s Nakombe niobium–rare-earth targets had reached approximately 5,722 metres by the end of September. Mineralogical samples have been submitted for analysis and the company is working towards a maiden Mineral Resource estimate. Assays remain pending, so the update records exploration progress without establishing commercial tantalum or niobium output.

Outlook: China’s unchanged CIF assessment and the dated East Africa reference do not establish a fresh regional price movement. The new FOB assessment improve visibility into African export pricing, with near-term direction depending on fresh, comparable offers, buyer acceptance and documented shipments. Exploration progress may broaden future supply options, while pending assays and recovery studies leave its commercial contribution uncertain.

Niobium: FOB niobium pentoxide assessments are unchanged: 99.5% material is US$55–60/kg, averaging US$57.50/kg, while 99.99% material is US$66–68/kg, averaging US$67/kg. FOB tantalum pentoxide is also unchanged at US$640–650/kg for 99.5% material, averaging US$645/kg, and US$670–680/kg for 99.99% material, averaging US$675/kg.

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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