Prices for tungsten, a vital metal for the defense industry, have surged to record levels following China’s export limitations in mid-2025. The restrictions by the world’s top tungsten producer have raised concerns among manufacturers, prompting them to diversify their supply chains. The Chicago Mercantile Exchange (CME Group) announced plans to launch a futures market to meet the rising demand for tungsten, aiming to enhance price transparency. Tungsten, known for its extreme hardness and high melting point, is utilized in various industries such as automotive, aerospace, and mining. With properties comparable to gold and diamond, it is an essential material for…
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