China Tungsten Hits Record High Amid Middle East Conflict

Post Views: 253 China tungsten China Tungsten Hits Record High as Middle East Conflict Escalates China tungsten hits record high following US-Israeli strikes on Iran. Suppliers raised ammonium paratungstate (APT) offers to 1.25–1.26mn yuan/t ($2,060–2,070/mtu) on 2 March, up sharply from 1.12–1.13mn yuan/t on 26 February. Some traders expect prices to exceed 1.5mn yuan/t in the near term. The Middle East conflict increases attention on tungsten’s strategic and military value. Defence applications accounted for approximately 9% of global tungsten demand in 2024. Analysts say heightened geopolit...