Chinese buyers spark bidding war for US tungsten scrap: FT
Geopolitics · Mining.com ·
Chinese scrap traders have been buying tungsten from US scrapyards since early 2025, driving record prices as competition intensifies to secure the critical mineral, the Financial Times reports. The buying spree is fueled by a global shortage from declining mine output and strong aerospace, defense and tooling demand, with some US dealers offered premiums of up to five times normal prices. China dominates global tungsten supply.