Tungsten Industry Annual Report 2025
2026-03-06 18:10:51 【Print】
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Content
1. Definition, Type, Distribution, Application 5
1.1 Definition 5
1.2 Type 5
1.3 Distribution 5
1.3.1 Tungsten resource reserve 5
1.3.2 Output ratio and number of operating entities 5
1.4 Application 6
2. Economy and Policy 6
2.1 China releases 2025 Catalogue of Goods Subject to Export License Administration 6
2.2 Russian extends scrap export quota to 2025 7
2.3 China's production of ten nonferrous metals up 4.3% in 2024 7
2.4 China tightens export controls of critical materials 7
2.5 India cancels tariffs on over a dozen key mineral waste materials 7
2.6 US preliminarily determines anti-dumping tax rate for tungsten bead from China 7
2.7 Guangxi makes major progress in exploration of strategic minerals 7
2.8 Canada to extend mineral exploration tax credit for two years 7
2.9 Uzbekistan imposes export taxes on metal waste and copper 7
2.10 EU selects 47 strategic projects to ensure access to key minerals 7
2.11 Uzbekistan to launch 76 mining projects over the next three years 8
2.12 Kyrgyzstan extends ban on export of ferrous metal waste for another six months 8
2.13 China to impose additional 34% tariff on all US imports 8
2.14 China raises tariffs on US imports from 34% to 84% 8
2.15 China raises tariffs on imported US products to 125% 8
2.17 China's Q1 foreign trade hits all-time high 8
2.18 Apple promotes recycled aluminum, rare earth elements, and 13 other materials 8
2.19 International Monetary Fund lowers global growth forecast 8
2.20 China and U.S. reach deal to scale back tariffs 9
2.21 China strengthens control over export of strategic minerals 9
2.22 China adjusts tariffs on US imports 9
2.23 The EU needs to allocate funds of over EUR10 billion for key minerals 9
2.24 China acts to curb excessive competition, support private economy 9
2.25 Guinea designates revoked mining license areas as strategic reserve zones 9
2.26 China launches fourth batch of third round of environmental inspections 9
2.27 Congo expected to reach a mineral agreement with the United States by the end of June 10
2.28 China's non-oil and gas exploration spending rises for fourth straight year 10
2.29 EU adds 13 new critical mineral projects abroad 10
2.30 China Customs updates procedures for dual-use export control reviews 10
2.31 China launches nationwide crackdown on illegal solid waste disposal 10
2.32 China wraps up on-site phase of latest central environmental inspections 10
2.33 China steps up crackdown on strategic mineral smuggling 10
2.34 Massive lithium deposit found in Chenzhou, Hunan 10
2.35 China discovers 38 new mineral deposits in H1 2025 11
2.36 U.S. Issues final anti-dumping and countervailing duties on Chinese tungsten bead 11
2.37 China's nonferrous metals industry sees steady growth in H1 2025 11
2.38 Hunan issues guidelines to boost industrial resource utilization 11
2.39 Russia increases the quota for exporting scrap metals 11
2.40 Canada and the United States invest USD29 million in Sisson tungsten project 11
2.41 Kazakhstan's rare earth reserves estimated at 2.6 million tons 11
2.42 Kyrgyzstan extends ban on non-ferrous metal scrap exports for another six months 11
2.43 Trump exempts graphite, tungsten and other products from global tariffs 11
2.44 China wraps up feedback on latest central environmental inspection 11
2.45 China's foreign trade grows for eight consecutive quarters 12
2.46 China-U.S. trade talks in Kuala Lumpur deliver positive results 12
2.47 Mali revokes more than 90 mining exploration permits 12
2.48 China's mineral exploration investment grows for fourth straight year 12
2.49 China sets 2026-2027 export criteria for tungsten, antimony, and silver 12
2.50 China launches 2025 nationwide workplace safety checks 12
2.51 Congo extends ban on mineral trade in war-torn eastern areas 12
2.52 China launches fifth batch of third-round of environmental inspections 13
2.53 China releases 2026-2027 list of state-designated tungsten and antimony exporters 13
2.54 China steps up inspections to crack down on illegal mining 13
2.55 China completes on-site phase for latest central environmental inspections 13
3. Market Movements 13
3.1 Domestic market 13
3.1.1 Chinese tungsten concentrate 65%min EXW 13
3.1.2 Chinese APT 88.5%min EXW 14
3.1.3 Chinese tungsten oxide 99.95%min EXW 15
3.1.4 Chinese tungsten carbide powder 99.8%min 2.5-7μm EXW 16
3.1.5 Chinese tungsten powder 99.95%min 2.5-7μm EXW 17
3.1.6 Chinese ferrotungsten 75%min EXW 18
3.1.7 Chinese ferrotungsten 70%min EXW 19
3.1.8 Chinese tungsten bar 99.9%min EXW 19
3.1.9 Chinese sodium tungstate 68%min EXW 20
3.1.10 Tungsten scrap 21
3.2 Chinese export market 23
3.2.1 Chinese APT 88.5%min FOB 23
3.2.2 Chinese tungsten carbide powder 99.8%min 2.5-7μm FOB 24
3.2.3 Chinese tungsten oxide WO3 99.95%min FOB 25
3.2.4 Chinese ferrotungsten 75%min FOB 26
3.2.5 Chinese tungsten bar W-4 99.9%min FOB 27
3.3 International Market 28
3.3.1 African tungsten concentrate 50%min FOB 28
3.3.2 European APT 88.5%min in Warehouse Rotterdam 28
3.3.3 European ferrotungsten 75%min in Warehouse Rotterdam 29
4．Company News 30
4.1 OKE begins trial production at photovoltaic tungsten wire project 30
4.2 CMOC provides 2025 production guidance 30
4.3 EQ Resources expands Spanish tungsten production capacity 30
4.4 EQ Resources wins $124 million tungsten purchase contract 31
4.5 Jiangxi Xinsheng suspends APT production 31
4.6 Hunan Gold reports annual antimony and tungsten production results 31
4.7 CMOC sees higher Q1 production for copper, cobalt, niobium, and tungsten 31
4.8 CMOC delivers strong first-quarter performance 31
4.9 Changling Mining acquires majority stake in nonferrous mining firm 31
4.10 Samsung suspends use of Russian metal manufacturing technology display screens 32
4.11 US Tungsten launches construction of Idaho Imam Tungsten Project construction 32
4.12 Tungsten West unveils restart plan for Hemerdon mine 32
4.13 Resolution Minerals acquires major antimony-gold-tungsten project in critical minerals district of Idaho, USA 32
4.14 Yunnan Tin secures first batch of 2025 tungsten mining quota 32
4.15 Terra Uranium to Acquire Undeveloped Tungsten-Tin-Molybdenum Project in NSW 32
4.16 EQ Resources receives EXIM letter of interest for Mt Carbine tungsten project in Queensland 32
4.17 Almonty raises USD90 million to advance tungsten operations in South Korea 32
4.18 Eurobattery Minerals enters a majority stake in the San Juan wolfram mine in Galicia, Spain 32
4.19 Xiamen Tungsten and SEW reach strategic cooperation agreement 33
4.20 Pilot Mountain tungsten project in Nevada receives $6M from U.S. Department of Defense 33
4.21 EQ Resources releases quarterly activities report ended 30th June 2025 33
4.22 Eurobattery Minerals commences works at San Juan wolfram mine in Galicia, Spain 33
4.23 Rumble Resources releases maiden tungsten resource of the Western Queen Project 33
4.24 Tungsten Mining initiates phased scoping study for Mt Mulgine Project 33
4.25 CMOC's H1 mining revenue hits record high 33
4.26 Zhangyuan Tungsten sees higher H1 concentrate production 33
4.27 Zijin Mining posts steady H1 growth in mined production 34
4.28 Hunan Gold's antimony and tungsten sales rise in H1 34
4.29 Trinity Metals to deliver tungsten concentrate produced in Rwanda to the U.S. 34
4.30 GEM boosts nickel and cobalt output to record levels in H1 34
4.31 American Tungsten signs offtake agreement with Global Tungsten & Powders for Ima Tungsten Mine 34
4.32 Patriot Critical Minerals confirms MEGA tungsten project resource volume 34
4.33 Blue Moon Metals acquires Springer critical metal mine and processing plant in Nevada 34
4.34 GEM again breaks records in nickel and cobalt self-supply 35
4.35 Dazhong Mining secures first large-scale lithium mining license 35
4.36 EQ Resources Barracuepardo Mine increases ore reserve by 39% 35
4.37 CMT to acquire 99.97% stake in Yuanjing Tungsten 35
4.38 Almonty Industries acquires U.S. tungsten project 35
4.39 CMOC's Q3 copper and cobalt output beats targets 35
4.40 EQ Resources releases FY2026 Q1 activities report 35
4.41 EQ Resources' Spanish tungsten mine achieved record production in October 35
4.42 Allied Critical Metals updates resource estimate for Borralha Tungsten Project in Portugal 36
4.43 Dayu Guangrong's APT project set for environmental approval 36
4.44 Almonty Industries completes acquisition of Montana tungsten mine 36
4.45 Eurobattery extends San Juan tungsten project mining license for 30 years 36
4.46 Xinshao Siwei obtains tungsten mining license 36
4.47 Tibet Shannan becomes largest shareholder of Weiling New Energy 36
4.48 Zijin Mining commissions first hard-rock lithium polymetallic project 36
4.49 GEM to acquire 16.38% stake in Henan Recycling Group 37
4.50 Nexcel Metals acquires 29.58% initial interest in Burnt Hill Tungsten Project 37
4.51 Almonty starts Sangdong Tungsten Mine in South Korea 37
4.52 Moon River Moly Ltd. releases preliminary economic assessment for Davidson Molybdenum-Copper-Tungsten Project 37
4.53 Thaizhou Pingsheng Tungsten-Molybdenum Products Factory stops sodium tungstate production 37
4.54 Chaling Xinhong Mining recovers tungsten ore operation 37
4.55 Ji'an Dehe Tungsten Industries cuts tungsten APT production 37
4.56 Taizhou Yuanhang Tungsten & Molybdenum ceases sodium tungstate operation 37
4.57 Hunan Shizhuyuan Nonferrous Metals Chenzhou Tungsten Products Branch ceases tungsten APT operation 37
4.58 Nanchang Cemented Carbide ceases tungsten carbide operation 38
4.59 Jiangxi xiushuigan north tungsten industry halts tungsten APT production 38
5．Producers Statistics 38
5.1 Chinese tungsten concentrate producers' statistics 38
5.1.1 Number of Chinese tungsten concentrate producers in 2025 38
5.1.2 Chinese tungsten concentrate producers' production capacity in 2025 38
5.1.3 Chinese tungsten concentrate producers' operating rate in 2025 39
5.1.4 Chinese tungsten concentrate producers' output in 2025 39
5.1.5 Chinese tungsten concentrate producers' inventory in 2025 39
5.2 Chinese tungsten carbide powder producers' statistics 40
5.2.1 Number of Chinese tungsten carbide powder producers in 2025 40
5.2.2 Chinese tungsten carbide powder producers' production capacity in 2025 40
5.2.2 Chinese tungsten carbide powder producers' operating rate in 2025 40
5.3.4 Chinese tungsten carbide powder producers' output in 2025 41
5.2.5 Chinese tungsten carbide powder producers' inventory in 2025 41
6 Customs Statistics 42
6.1 China's tungsten concentrate imports in 2025 42
6.2 China's APT exports in 2025 42
6.3 China's tungsten powder exports in 2025 42
6.4 China's tungsten carbide powder exports in 2025 43
6.5 China's tungsten blue exports in 2025 43
6.6 China's tungsten yellow exports in 2025 43
7. Supply and Demand Outlook for 2026 44
7.1 Supply and demand for tungsten concentrate 44
7.2 Supply and demand for APT 44
7.3 Supply and demand for tungsten powder 44
1. Definition, Type, Distribution, Application 5
1.1 Definition 5
1.2 Type 5
1.3 Distribution 5
1.3.1 Tungsten resource reserve 5
1.3.2 Output ratio and number of operating entities 5
1.4 Application 6
2. Economy and Policy 6
2.1 China releases 2025 Catalogue of Goods Subject to Export License Administration 6
2.2 Russian extends scrap export quota to 2025 7
2.3 China's production of ten nonferrous metals up 4.3% in 2024 7
2.4 China tightens export controls of critical materials 7
2.5 India cancels tariffs on over a dozen key mineral waste materials 7
2.6 US preliminarily determines anti-dumping tax rate for tungsten bead from China 7
2.7 Guangxi makes major progress in exploration of strategic minerals 7
2.8 Canada to extend mineral exploration tax credit for two years 7
2.9 Uzbekistan imposes export taxes on metal waste and copper 7
2.10 EU selects 47 strategic projects to ensure access to key minerals 7
2.11 Uzbekistan to launch 76 mining projects over the next three years 8
2.12 Kyrgyzstan extends ban on export of ferrous metal waste for another six months 8
2.13 China to impose additional 34% tariff on all US imports 8
2.14 China raises tariffs on US imports from 34% to 84% 8
2.15 China raises tariffs on imported US products to 125% 8
2.17 China's Q1 foreign trade hits all-time high 8
2.18 Apple promotes recycled aluminum, rare earth elements, and 13 other materials 8
2.19 International Monetary Fund lowers global growth forecast 8
2.20 China and U.S. reach deal to scale back tariffs 9
2.21 China strengthens control over export of strategic minerals 9
2.22 China adjusts tariffs on US imports 9
2.23 The EU needs to allocate funds of over EUR10 billion for key minerals 9
2.24 China acts to curb excessive competition, support private economy 9
2.25 Guinea designates revoked mining license areas as strategic reserve zones 9
2.26 China launches fourth batch of third round of environmental inspections 9
2.27 Congo expected to reach a mineral agreement with the United States by the end of June 10
2.28 China's non-oil and gas exploration spending rises for fourth straight year 10
2.29 EU adds 13 new critical mineral projects abroad 10
2.30 China Customs updates procedures for dual-use export control reviews 10
2.31 China launches nationwide crackdown on illegal solid waste disposal 10
2.32 China wraps up on-site phase of latest central environmental inspections 10
2.33 China steps up crackdown on strategic mineral smuggling 10
2.34 Massive lithium deposit found in Chenzhou, Hunan 10
2.35 China discovers 38 new mineral deposits in H1 2025 11
2.36 U.S. Issues final anti-dumping and countervailing duties on Chinese tungsten bead 11
2.37 China's nonferrous metals industry sees steady growth in H1 2025 11
2.38 Hunan issues guidelines to boost industrial resource utilization 11
2.39 Russia increases the quota for exporting scrap metals 11
2.40 Canada and the United States invest USD29 million in Sisson tungsten project 11
2.41 Kazakhstan's rare earth reserves estimated at 2.6 million tons 11
2.42 Kyrgyzstan extends ban on non-ferrous metal scrap exports for another six months 11
2.43 Trump exempts graphite, tungsten and other products from global tariffs 11
2.44 China wraps up feedback on latest central environmental inspection 11
2.45 China's foreign trade grows for eight consecutive quarters 12
2.46 China-U.S. trade talks in Kuala Lumpur deliver positive results 12
2.47 Mali revokes more than 90 mining exploration permits 12
2.48 China's mineral exploration investment grows for fourth straight year 12
2.49 China sets 2026-2027 export criteria for tungsten, antimony, and silver 12
2.50 China launches 2025 nationwide workplace safety checks 12
2.51 Congo extends ban on mineral trade in war-torn eastern areas 12
2.52 China launches fifth batch of third-round of environmental inspections 13
2.53 China releases 2026-2027 list of state-designated tungsten and antimony exporters 13
2.54 China steps up inspections to crack down on illegal mining 13
2.55 China completes on-site phase for latest central environmental inspections 13
3. Market Movements 13
3.1 Domestic market 13
3.1.1 Chinese tungsten concentrate 65%min EXW 13
3.1.2 Chinese APT 88.5%min EXW 14
3.1.3 Chinese tungsten oxide 99.95%min EXW 15
3.1.4 Chinese tungsten carbide powder 99.8%min 2.5-7μm EXW 16
3.1.5 Chinese tungsten powder 99.95%min 2.5-7μm EXW 17
3.1.6 Chinese ferrotungsten 75%min EXW 18
3.1.7 Chinese ferrotungsten 70%min EXW 19
3.1.8 Chinese tungsten bar 99.9%min EXW 19
3.1.9 Chinese sodium tungstate 68%min EXW 20
3.1.10 Tungsten scrap 21
3.2 Chinese export market 23
3.2.1 Chinese APT 88.5%min FOB 23
3.2.2 Chinese tungsten carbide powder 99.8%min 2.5-7μm FOB 24
3.2.3 Chinese tungsten oxide WO3 99.95%min FOB 25
3.2.4 Chinese ferrotungsten 75%min FOB 26
3.2.5 Chinese tungsten bar W-4 99.9%min FOB 27
3.3 International Market 28
3.3.1 African tungsten concentrate 50%min FOB 28
3.3.2 European APT 88.5%min in Warehouse Rotterdam 28
3.3.3 European ferrotungsten 75%min in Warehouse Rotterdam 29
4．Company News 30
4.1 OKE begins trial production at photovoltaic tungsten wire project 30
4.2 CMOC provides 2025 production guidance 30
4.3 EQ Resources expands Spanish tungsten production capacity 30
4.4 EQ Resources wins $124 million tungsten purchase contract 31
4.5 Jiangxi Xinsheng suspends APT production 31
4.6 Hunan Gold reports annual antimony and tungsten production results 31
4.7 CMOC sees higher Q1 production for copper, cobalt, niobium, and tungsten 31
4.8 CMOC delivers strong first-quarter performance 31
4.9 Changling Mining acquires majority stake in nonferrous mining firm 31
4.10 Samsung suspends use of Russian metal manufacturing technology display screens 32
4.11 US Tungsten launches construction of Idaho Imam Tungsten Project construction 32
4.12 Tungsten West unveils restart plan for Hemerdon mine 32
4.13 Resolution Minerals acquires major antimony-gold-tungsten project in critical minerals district of Idaho, USA 32
4.14 Yunnan Tin secures first batch of 2025 tungsten mining quota 32
4.15 Terra Uranium to Acquire Undeveloped Tungsten-Tin-Molybdenum Project in NSW 32
4.16 EQ Resources receives EXIM letter of interest for Mt Carbine tungsten project in Queensland 32
4.17 Almonty raises USD90 million to advance tungsten operations in South Korea 32
4.18 Eurobattery Minerals enters a majority stake in the San Juan wolfram mine in Galicia, Spain 32
4.19 Xiamen Tungsten and SEW reach strategic cooperation agreement 33
4.20 Pilot Mountain tungsten project in Nevada receives $6M from U.S. Department of Defense 33
4.21 EQ Resources releases quarterly activities report ended 30th June 2025 33
4.22 Eurobattery Minerals commences works at San Juan wolfram mine in Galicia, Spain 33
4.23 Rumble Resources releases maiden tungsten resource of the Western Queen Project 33
4.24 Tungsten Mining initiates phased scoping study for Mt Mulgine Project 33
4.25 CMOC's H1 mining revenue hits record high 33
4.26 Zhangyuan Tungsten sees higher H1 concentrate production 33
4.27 Zijin Mining posts steady H1 growth in mined production 34
4.28 Hunan Gold's antimony and tungsten sales rise in H1 34
4.29 Trinity Metals to deliver tungsten concentrate produced in Rwanda to the U.S. 34
4.30 GEM boosts nickel and cobalt output to record levels in H1 34
4.31 American Tungsten signs offtake agreement with Global Tungsten & Powders for Ima Tungsten Mine 34
4.32 Patriot Critical Minerals confirms MEGA tungsten project resource volume 34
4.33 Blue Moon Metals acquires Springer critical metal mine and processing plant in Nevada 34
4.34 GEM again breaks records in nickel and cobalt self-supply 35
4.35 Dazhong Mining secures first large-scale lithium mining license 35
4.36 EQ Resources Barracuepardo Mine increases ore reserve by 39% 35
4.37 CMT to acquire 99.97% stake in Yuanjing Tungsten 35
4.38 Almonty Industries acquires U.S. tungsten project 35
4.39 CMOC's Q3 copper and cobalt output beats targets 35
4.40 EQ Resources releases FY2026 Q1 activities report 35
4.41 EQ Resources' Spanish tungsten mine achieved record production in October 35
4.42 Allied Critical Metals updates resource estimate for Borralha Tungsten Project in Portugal 36
4.43 Dayu Guangrong's APT project set for environmental approval 36
4.44 Almonty Industries completes acquisition of Montana tungsten mine 36
4.45 Eurobattery extends San Juan tungsten project mining license for 30 years 36
4.46 Xinshao Siwei obtains tungsten mining license 36
4.47 Tibet Shannan becomes largest shareholder of Weiling New Energy 36
4.48 Zijin Mining commissions first hard-rock lithium polymetallic project 36
4.49 GEM to acquire 16.38% stake in Henan Recycling Group 37
4.50 Nexcel Metals acquires 29.58% initial interest in Burnt Hill Tungsten Project 37
4.51 Almonty starts Sangdong Tungsten Mine in South Korea 37
4.52 Moon River Moly Ltd. releases preliminary economic assessment for Davidson Molybdenum-Copper-Tungsten Project 37
4.53 Thaizhou Pingsheng Tungsten-Molybdenum Products Factory stops sodium tungstate production 37
4.54 Chaling Xinhong Mining recovers tungsten ore operation 37
4.55 Ji'an Dehe Tungsten Industries cuts tungsten APT production 37
4.56 Taizhou Yuanhang Tungsten & Molybdenum ceases sodium tungstate operation 37
4.57 Hunan Shizhuyuan Nonferrous Metals Chenzhou Tungsten Products Branch ceases tungsten APT operation 37
4.58 Nanchang Cemented Carbide ceases tungsten carbide operation 38
4.59 Jiangxi xiushuigan north tungsten industry halts tungsten APT production 38
5．Producers Statistics 38
5.1 Chinese tungsten concentrate producers' statistics 38
5.1.1 Number of Chinese tungsten concentrate producers in 2025 38
5.1.2 Chinese tungsten concentrate producers' production capacity in 2025 38
5.1.3 Chinese tungsten concentrate producers' operating rate in 2025 39
5.1.4 Chinese tungsten concentrate producers' output in 2025 39
5.1.5 Chinese tungsten concentrate producers' inventory in 2025 39
5.2 Chinese tungsten carbide powder producers' statistics 40
5.2.1 Number of Chinese tungsten carbide powder producers in 2025 40
5.2.2 Chinese tungsten carbide powder producers' production capacity in 2025 40
5.2.2 Chinese tungsten carbide powder producers' operating rate in 2025 40
5.3.4 Chinese tungsten carbide powder producers' output in 2025 41
5.2.5 Chinese tungsten carbide powder producers' inventory in 2025 41
6 Customs Statistics 42
6.1 China's tungsten concentrate imports in 2025 42
6.2 China's APT exports in 2025 42
6.3 China's tungsten powder exports in 2025 42
6.4 China's tungsten carbide powder exports in 2025 43
6.5 China's tungsten blue exports in 2025 43
6.6 China's tungsten yellow exports in 2025 43
7. Supply and Demand Outlook for 2026 44
7.1 Supply and demand for tungsten concentrate 44
7.2 Supply and demand for APT 44
7.3 Supply and demand for tungsten powder 44
