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commodity markets

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Feature placing tungsten alongside sulfur and helium as indicators of China's supply-chain leverage. APT prices breaking $450/MTU; tungsten powder near $55,000/tonne, up 500%+ from 2024 lows. Notes that simultaneous depletion of tungsten stocks through Ukraine and Iran conflicts has amplified the export-control price effect.

“Tungsten APT at $450/MTU and powder near $55,000/tonne, up over 500% from 2024 lows, as Chinese controls intersect with war-driven stock depletion.”