Tungsten Price Soars 900% to US$3,185/MTU, Western Star Joins U.S. Defense Consortium
CRML•Rotterdam APT tungsten trades near US$3,185/MTU after surging 900% over 12 months with China cutting exports to 15 firms and a Jan 2027 U.S. defense procurement ban approaching. Western Star Resources submitted a tungsten proposal to the Defense Industrial Base Consortium, secured a €200,000 marketing deal and raised $500,000.
1. Tungsten Price Rally
Benchmark Rotterdam ammonium paratungstate (APT) has reached near US$3,185 per metric tonne unit after a roughly 900% increase over the past 12 months and a 350% gain year-to-date, driven by surging defense and semiconductor demand and limited global supply.
2. China Export Restrictions
Beijing now restricts tungsten exports to 15 approved firms through 2027 and has cut domestic mine production by about 10% year-on-year, reinforcing supply pressures as the United States remains without domestic tungsten mine output since 2015.
3. U.S. Defense Procurement Deadline
On January 1, 2027, federal rules will bar Chinese, Russian, Iranian and North Korean tungsten from key defense applications, creating urgent demand for near-term alternative sources as project timelines for new mines typically span years.
4. Western Star’s Strategic Moves
Western Star Resources filed a proposal with the Defense Industrial Base Consortium for its past-producing Rowland tungsten asset, plans a maiden drill program in 2026, signed a €200,000 European marketing agreement and completed a non-brokered $500,000 flow-through share placement.
