here's a homemade chart based on the public usgs as above,using...

here's a homemade chart based on the public usgs as above,
using the assumtion that increase/decrease in price is
related to supply/demand.

i've plotted the difference YOY between price
divided by the difference YOY on global supply
to try and normalise the long term IRT (98US$) prices to increases/decreases in demand. i.e. blue line above zero = oversupply trend, below zero = undersupply trend.

this would be far less dodgy with a decent dataset on long term demand, but i'm not paying $1000 for one of these.

this result is interesting IMO, because it looks like
tungsten (ores) show a net increase in value over the long term. Also the supply result appears to show a net decrease over the long term.
next 10-12 years are obviously crucial to viability of the tungsten miners looking at going into production soon.
dare i say that peaks in oversupply appear short lived compared to undersupply.
given lead times, when do you start your 'run'?

historically, the best times for the miners appear to have been:
1910-1918
1935-1955
1970-1980
????-????

+200 US$/mtu looks realistic projecting 10-12 years IMO