1 Oz (28-33 gram) 99.9% Tungsten Metal Rod

Tungsten Price 2024 [Updated Daily]

When considering the "toughest" materials, most people often think of diamonds (a form of carbon) or titanium. But tungsten should also be on that list. It is the strongest material known to man next to diamonds. Among all non-alloyed metals, it has the highest melting point, the lowest vapor pressure, and the highest tensile strength.

Tungsten doesn't naturally occur in its pure metallic state. It's found in various ores, such as scheelite and wolfram, with China being the largest supplier, contributing about 85% of the world's supply. In 2013, China produced an estimated 68,000 metric tons, while Russia trailed with just 3,600 tons.

Below is the historical Tungsten price per metric ton:

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Price History of Tungsten

The price of this metal is influenced by supply, which largely depends on Chinese production and export policies, and demand. In 2010, China scaled back its mining due to rising production costs, causing a spike in prices. The metal's role in high-strength materials makes it integral for modernization efforts in industries like construction, mining, and manufacturing. This demand can elevate the price.

Tungsten as Investment

While tungsten is a strategic material and not tradable as a commodity, investing in shares of mining companies that produce tungsten can be lucrative. If Chinese supply decreases or global demand increases, these shares could rise in value.

Purposes

The uses of tungsten vary based on its form. It transforms into carbide when combined with carbon, forming a compound with double the stiffness and density of steel. As a result, it's ideal for high-speed drill bits and other cutting tools, offering better performance and sharper cutting edges.

Tungsten carbide is also employed in sports equipment, snowmobile drive tracks, and specialized winter tires, providing greater traction. In addition, some surgical instruments made from tungsten carbide are sharper than stainless steel versions, offering better performance but requiring delicate handling.

Beyond these applications, tungsten carbide is used in the rotating ball of ballpoint pens, custom guitar slides, and the jewelry industry due to its abrasion resistance and ability to hold a burnished finish. Furthermore, the metal's high melting point makes it suitable for use in incandescent and fluorescent light bulbs, television tubes, and touch screens of smartphones and tablets.

Tungsten is crucial in various industries, including aeronautics, automotive manufacturing, and radiation shielding. Its chemical inertness and conductive properties make it valuable in electrodes, electron microscope emitter tips, and integrated circuits in electronics.

The world depends on tungsten for construction, manufacturing, mining, and even mobile touch screens. As demand for the metal rises, so does its price and the value of the mining companies that supply it.

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