The Tungsten Market Is Warning of an Upcoming War

The Tungsten Market Is Warning of an Upcoming War – Odd Lots

Market views

Bullish

TUNGSTEN— Tungsten prices have surged 10x from $300 to $3,000 per dry metric ton unit (approximately $400,000 per ton of tungsten) due to China's export controls and increased military demand from ongoing conflicts. The metal is critical for armor-piercing projectiles, drone shrapnel, and industrial tooling, with China controlling 80% of global supply creating supply security concerns.
RAREEARTHS— Rare earths are experiencing similar supply security concerns as tungsten, with China dominating production. New deposits of ionic absorption clays (critical for dysprosium and terbium) are being discovered outside China in Brazil, Malaysia, Australia, and Africa as countries seek alternative sources.

Not investment advice.