Strategic tungsten prices surged by more than 50% in recent years China's output accounts for 80%
Recently, a surge in the price of commodities has raised concerns, especially since 80% of the metal's global output comes from China. According to Bloomberg, the price of tungsten, one of the most crucial materials for the economy and defense of the Western world, is rising at a faster rate than any major commodity.
According to a report by the U.S. Bloomberg News Agency on Sept. 11, tungsten prices have risen by more than 50% in the past two months as people become increasingly worried about the reduction of China's supply. About 80% of this metal's global output comes from China. China is banning the polluted mines and implementing production targets that limit the supply of tungsten to about 91,300 tons per year. In addition to China's restrictive measures, demand from overseas companies in Japan, the Netherlands and the United States has recovered significantly. Exports have soared since the beginning of the year. Tungsten prices, in short supply, usher in a "soaring" rate.
Metal market research firm said tungsten prices in Europe have risen 52% since early July. This increase exceeded all 22 of the key materials in the Bloomberg Commodity Index.