Tungsten price breaks records as China export curbs, military demand boost investment
Geopolitics · Mining.com ·
Tungsten prices have powered into record territory, with ammonium paratungstate (APT) topping $3,000 per metric ton in Rotterdam — up more than 200% since the start of the year. The surge is driven by China's tightening export controls, surging military demand in aerospace and defense, and stretched supplies, prompting renewed Western investment in non-Chinese tungsten projects.