Tungsten28 Sep 2025 13:28
European tungsten prices have surged to their highest level since 2016, driven by China’s tightening grip on critical mineral exports.
Tungsten has increased 310% since 2016 which follows a series of Chinese export curbs and quota reductions on key strategic metals, including tungsten, tellurium, molybdenum, bismuth and indium. These measures, imposed in retaliation to US tariffs earlier this year, have exacerbated global supply concerns.
China dominates global tungsten production, accounting for over 80% of last year’s total output of 81,000 tons, according to the USGS.
With the highest melting point of any element, the metal it is extremely hard, dense, and exhibits excellent electrical and thermal conductivity. Once used to light homes through incandescent bulbs, it now underpins essential industries from aerospace and semiconductors to defence and drilling. This scarcity is worsening as China’s first tungsten ore mining quota for 2024 was set at 58,000 tons—a 6.5% decrease from the previous year.
“Since the Chinese export ban was announced there has been an over-reliance on scrap supplies, but now those are running thin, and there’s growing panic over the inability to secure new primary tungsten material,” said Oliver Friesen, CEO of Guardian Metal Resources.
The stakes are particularly high for the United States, which ceased commercial tungsten mining in 2015 and remains heavily reliant on imports.
A looming 2027 deadline mandates the US military to eliminate purchases of tungsten mined or processed in China or Russia, the latter being the world’s third-largest producer.
Last week, Canada’s Almonty Industries announced an offtake agreement to provide tungsten oxide exclusively for US defense applications. The company operates tungsten mines in Spain, Portugal and South Korea.
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