Tungsten
Overview
The metal with the highest melting point, essential for hardmetals, cutting tools, aerospace components, and military applications. China controls 83% of global mining output.
Strategic Relevance
Subject to Chinese export restrictions and 25% US tariffs since December 2024. Irreplaceable in cutting tools and defense applications.
Applications
Price History
Historical price trend (USD/kg or USD/tonne)
Physical Properties
- Density
- 19.25 g/cm³
- Melting Point
- 3,422°C
- Atomic Number
- 74
- Category
- Transition Metal
Supply Concentration
- China83%
- Vietnam4%
- Russia2%
- Australia3%
- Other8%
Related Documentation
Procyon Indicative Price
Form: APT (ammonium paratungstate) · Purity: 88.5% WO3
Indicative level for information only, based on Procyon Metals' trading activity. It is not a firm offer or investment advice. Firm quotes are issued to partner advisers and professional clients according to form, purity and volume.
Request a firm quote →Frequently asked questions
What is the price of tungsten?
In 2024, the reference price for tungsten stood at around 312 USD/kg, compared with 280 USD/kg in 2023. Prices vary with purity, form (oxide or metal) and traded volume; the full history is charted above.
How can a client hold physical tungsten?
Tungsten is held in a specified form (metal, oxide or compound) and purity, backed by a certificate of analysis for the lot. Procyon Metals works through wealth advisers and family offices: it sources from vetted counterparties, documents the lot and arranges transport and storage with a specialist custodian.
Why is tungsten a strategic metal?
Subject to Chinese export restrictions and 25% US tariffs since December 2024. China mining quota cut 6.45% in September 2025, further tightening supply.
Which countries produce tungsten?
Tungsten production is highly concentrated: China (83%), Vietnam (4%), Russia (2%), Australia (3%).
How liquid is physical tungsten?
Less liquid than listed products: there is no exchange price for tungsten that a private holder can trade on. Resale is negotiated with industrial buyers or traders, and the price and timing depend on form, purity, lot size and demand at that moment. It should be treated as a long-horizon holding.