Global Tungsten Market Shifts Focus to Supply Chain Management
Chinese companies are intensifying scrap tungsten purchases in the U.S., driving up prices and global competition. As tungsten's role expands into high-tech sectors, securing a stable supply chain becomes critical for industry players amidst geopolitical complexities.
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Chinese firms are actively acquiring tungsten scrap from the U.S. and elsewhere, leading to a 200% price increase since May 2025, with scrap prices rising up to 350%. This shift indicates a move from resource extraction to supply chain stability, with tungsten now recognized as a strategic material by the USGS.
The EU is considering including tungsten in its strategic mineral reserve program. China is projected to maintain 67% of mining supply and nearly 90% of refined tungsten by 2030. Companies like Masan High-Tech Materials in Vietnam are positioned to leverage their combined mining and recycling capabilities, enhancing their competitive edge in a tightening global supply landscape.
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