The Market

Tungsten Price

On 28 March 2024, industry sources indicate that the Tungsten APT Price CIF Rotterdam has risen for the first time since 17 November 2023 to US$305-$327/mtu (metric tonne unit).

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Overview

• Atomic #74, chemical symbol “W”
• Two economic tungsten minerals – Wolframite / Scheelite

Unlike most base and precious metals, Tungsten is largely not smelted to form metal due to its high melting point and is instead extracted from concentrate using a series of chemical reactions.

Due to the high-capital cost associated with the construction of a chemical processing plant to produce ammonium paratungstate (APT), the most commonly traded form of tungsten, most junior miners produce a tungsten concentrate.

Tungsten concentrates are typically composed of scheelite and/or wolframite and contain 65-70% tungsten trioxide (WO3) and vendors of concentrate tend to receive c. 70%-80% of the value of the tungsten in the concentrate based on the prevailing APT price.

Tungsten concentrates are purchased by secondary processors that convert them into predominantly Amonium Paratungstate (APT). APT is then converted to various powders, which are used in downstream metals and alloys by tertiary manufacturers.

For more information, you can visit the ITIA website here.