European tungsten prices have surged to their highest level since 2013, driven by China’s tightening grip on critical mineral exports.
The price of ammonium paratungstate (APT)—a key intermediate used in tungsten metal production—has climbed to $400 per metric ton unit (mtu) on the European spot market, marking an 18% jump since February, according to Reuters.
The price spike follows a series of Chinese export curbs and quota reductions on key strategic metals, including tungsten, tellurium, molybdenum, bismuth and indium. These measures, imposed in retaliation to US tariffs earlier this year, have exacerbated global supply concerns. China dominates global tungsten production, accounting for over 80% of last year’s total output of 81,000 tons, according to the USGS.
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