Silicon social inventories added 2,000 mt on week

[SMM Analysis: Understanding SMM Tantalum Ore Price Points: Quotation Units, Conversion Formulas, and Use Cases] AI computing power is boosting tantalum capacitor consumption, making tantalum a "computing metal." Eighty percent of global tantalum ore is concentrated in three African countries. In early 2026, the suspension of operations at the Rubaya mine caused an interruption of about 15% of supply, and tantalum prices doubled within two months. SMM has launched a tantalum ore FOB (East Africa) price point, forming a dual anchor of "FOB – CIF" together with China's landed prices.

China Market: SMM’s assessment for 30% tantalum ore CIF China on 13 November stands at US$227–232/lb, averaging US$229.50/lb. The average is down US$3/lb, or 1.29%, from the previous assessment. It is also US$13/lb below the US$242.50/lb reference recorded on 3 November, showing a further softening in China’s assessed import price. African Market: The DRC Ministry of Foreign Trade’s publication on 9 November lists a tantalum concentrate reference of US$37,240 per tonne for 9–14 November, up 30.54% from US$28,526.82 per tonne. Its separate tantalum reference remains unchanged at US$760/kg. The concentrate’s grade, delivery terms and valuation methodology are unspecified, preventing a direct comparison with regional ore assessments. Separately, ReelActu reported on 8 November that Goma coltan traders were seeking greater freedom to choose buyers. Traders cited US$2.50/kg per degree in Goma against a potential resale level of US$4.50/kg per degree in Kigali—equivalent to US$100/kg and US$180/kg respectively for material grading 40% Ta₂O₅. The report highlights concerns about buyer access and pricing transparency rather than establishing a regional export benchmark. East Africa FOB Tantalum Ore: SMM’s latest weekly assessment, dated 12 November, is US$4.30–4.50/kg per 1% Ta₂O₅, averaging US$4.40. This compares with US$4.50–4.60, averaging US$4.55, on 5 November. The average has fallen US$0.15, or 3.30%, marking a second consecutive weekly decline. Both ends of the assessed range moved lower this week. Market Outlook: China’s daily decline and East Africa’s lower weekly assessment point to continued downward pressure on tantalum ore prices. The available evidence supports a cautious outlook, without establishing the pace of further declines or a change in physical supply.

[ADC12 Price Daily Review: Environmental Protection-Related Controls in Multiple Regions Disrupt Supply, ADC12 Prices Hold Steady Amid Wait-and-See Sentiment] In the short term, stabilizing costs and supply-side disruptions provide some support for ADC12 prices, but downstream restocking willingness remains insufficient, and supply-demand resonance has yet to materialize. The strength of future price support will still depend on the actual scale of production cuts, the recovery of raw material arrivals, and changes in downstream orders.