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[Ferro-Alloys.com]  TUNGSTEN Mineral Commodity Summaries, February 2025

Events, Trends, and Issues: China continued to be the world’s leading producer, importer, and consumer of tungsten concentrates. China’s consumption and imports increased significantly in 2025. At the end of 2024, the United States, under section 301(b) of the Trade Act of 1974, increased tariffs to 50% on several tungsten products from China, and in February 2025 China implemented new export controls on selected tungsten items. As a result, prices rose sharply throughout 2025. Rotterdam prices increased from $266 to $551 per metric ton unit for 65% concentrate and from $331 to $675 per metric ton unit for APT. World mine production increased, especially from the start of production at the Boguty deposit in Kazakhstan. In Canada and the United States, multiple projects received awards under the Defense Production Act, Title III, including projects in Nevada, New Brunswick, and Yukon. In October, a joint venture between Kazakhstan and the United States to develop tungsten resources was announced

World Mine Production and Reserves: Production in 2024 for Russia was revised significantly based on a Government report. Reserves for China and Vietnam were revised based on Government reports.

World Resources: World tungsten resources are geographically widespread. China ranked first in the world in tungsten resources and reserves. Significant tungsten resources have been identified on every continent except Antarctica.

Substitutes: Potential substitutes for cemented tungsten carbides include cemented carbides based on molybdenum carbide, niobium carbide, or titanium carbide; ceramics; ceramic-metallic composites (cermets); and tool steels. Most of these options reduce rather than replace the amount of tungsten used. Potential substitutes for other applications are as follows: molybdenum for certain tungsten mill products; molybdenum steels for tungsten steels, although most molybdenum steels still contain tungsten; lighting based on carbon nanotube filaments, induction technology, and light-emitting diodes for lighting based on tungsten electrodes or filaments; depleted uranium or lead for tungsten or tungsten alloys in applications requiring high density or the ability to shield radiation; and depleted uranium alloys or hardened steel for cemented tungsten carbides or tungsten alloys in armor-piercing projectiles. In some applications, substitution would result in increased cost or a loss in product performance

• [Editor:tianyawei]