economy
April 8, 2026
Tungsten prices are rising sharply: In which industries is this metal irreplaceable?
Tungsten is a metal essential in tool manufacturing, mechanical engineering, and the military industry. The war in Iran has driven the price of this metal to a record high. For the German economy, this is a serious cause for alarm.
TL;DR
- Tungsten is crucial for tools, machinery, electronics, and military applications.
- The price of tungsten has surged to record highs, comparable to oil price increases.
- The war in Iran and increased military spending are major factors contributing to the price hike.
- China dominates global tungsten production (79%) and implemented export controls in February 2025, reducing exports by 40%.
- Tungsten's unique properties, including extreme hardness and high melting point, make it vital for armor-piercing ammunition and high-temperature components.
- The EU considers tungsten a strategic raw material, essential for aerospace and defense industries.
- Reduced Chinese exports and domestic production issues have created a tight market, impacting Germany's key industries like mechanical engineering and automotive.
- The tungsten price increase exposes Germany and Europe's dependence on critical raw materials.