Tungsten Prices Triple to $1,150 MTU as China Controls 80% Supply, Eldorado Gold Joins
Tungsten prices have tripled since early 2024, with ammonium paratungstate hitting record highs of $1,125-$1,150 per metric tonne unit in China and $1,100 in Rotterdam as China restricts exports and controls over 80% of global supply. Eldorado Gold is among five miners advancing critical mineral assets across the Americas.
1. Global Tungsten Supply Shock
Tungsten prices have surged threefold since early 2024, driven by China’s export throttling under its 2026 dual-use catalogue. Ammonium paratungstate reached $1,125-$1,150 per metric tonne unit in China and $1,100 in Rotterdam as Beijing now controls over 80% of global tungsten output.
2. Eldorado Gold Strategic Response
Eldorado Gold is one of five mining companies, alongside GoldHaven Resources, American Tungsten, NGEx Minerals and Foran Mining, accelerating exploration and development of critical mineral projects across North and South America. These initiatives aim to secure tungsten, copper and gold assets to mitigate supply risks and capitalize on elevated commodity prices.