Since this year, there has been a rare rise in tungsten prices. Prices of major products such as tungsten concentrate, ammonium paratungstate, and tungsten carbide have all risen by more than 200%, drawing market attention. According to data, in 2024, China's tungsten ore production was 67,000 tons, accounting for 83% of global tungsten ore production. In February of this year, the Ministry of Commerce and the General Administration of Customs issued a notice to implement export controls on various rare metal products, including tungsten, and related technology; at the same time, the domestic crackdown on smuggling and illegal mining continues to increase. Under policy restrictions, domestic and foreign spot resources are tightening, further boosting prices. Industry insiders said that in addition to the fundamentals of supply and demand, factors such as the global interest rate cut environment at the end of the year were also driving up tungsten prices.

Since this year, there has been a rare rise in tungsten prices. Prices of major products such as tungsten concentrate, ammonium paratungstate, and tungsten carbide have all risen by more than 200%, drawing market attention. According to data, in 2024, China's tungsten ore production was 67,000 tons, accounting for 83% of global tungsten ore production. In February of this year, the Ministry of Commerce and the General Administration of Customs issued a notice to implement export controls on various rare metal products, including tungsten, and related technology; at the same time, the domestic crackdown on smuggling and illegal mining continues to increase. Under policy restrictions, domestic and foreign spot resources are tightening, further boosting prices. Industry insiders said that in addition to the fundamentals of supply and demand, factors such as the global interest rate cut environment at the end of the year were also driving up tungsten prices.