In a world dependent on cutting-edge technology and heavy industry, China's staggering production of 64,000 metric tons of tungsten—a whopping 83% of the global total in 2022—reveals a critical vulnerability in the supply chain for this indispensable metal.
Key Takeaways
- Global tungsten mine production in 2022 reached 77,000 metric tons, with China contributing 64,000 metric tons or 83% of the total.
- China's tungsten concentrate output in 2022 was approximately 67,000 metric tons, dominating the supply chain.
- Vietnam produced 3,400 metric tons of tungsten concentrates in 2022, ranking second globally.
- Global identified tungsten resources stand at 5.8 million metric tons of WO3.
- China's tungsten reserves are estimated at 1.9 million metric tons of WO3, 33% of world total.
- Vietnam holds 52,000 metric tons of tungsten reserves as of 2022.
- World tungsten apparent consumption in 2022 was 91,000 metric tons.
- China consumed 59,000 metric tons of tungsten in 2022, 65% of global demand.
- EU tungsten consumption reached 12,000 metric tons in 2022 for tooling.
- Global average tungsten APT price in 2022 was $280 per mtu.
- Chinese tungsten concentrate 65% min price peaked at RMB 165,000/mt in March 2022.
- US tungsten powder price averaged $45.50 per kg in December 2022.
- China exported 5,200 metric tons of tungsten products in 2022, down 10% YoY.
- Vietnam tungsten exports totaled 4,800 metric tons in 2022, mainly to China.
- EU imported 11,000 metric tons of tungsten ores and concentrates in 2022.
China dominates global tungsten production and consumption, but other nations are developing their own resources.
Applications and Uses
- Tungsten used in cutting tools represents 50% of total consumption, around 45,500 tons globally.
- Cemented carbide accounts for 60% of tungsten demand, primarily in mining and construction.
- Alloys and steels consume 17% of tungsten, about 15,500 tons annually.
- Lamp filaments and electrodes use 10% of tungsten production historically, now less.
- Electronics and semiconductors require 5,000 tons tungsten per year for contacts.
- Aerospace superalloys incorporate 2,000 tons tungsten annually worldwide.
- Welding electrodes use 1,500 tons of tungsten globally each year.
- Jewelry and wear-resistant parts consume 1,000 tons tungsten yearly.
- X-ray tubes and medical imaging use 800 tons of tungsten targets.
- Armor-piercing ammunition requires 500 tons tungsten per year in defense.
- Cutting tools 48% tungsten use.
- Carbides 62% demand.
Applications and Uses Interpretation
Tungsten's world is a paradox of brute force and precision, where the majority of this unyielding metal is quietly embedded in the teeth that chew through rock and the blades that shave microns from steel, only to occasionally surface in our jets, our hospitals, and, more ominously, the ammunition designed to pierce the armor it helped create.
Consumption and Demand
- World tungsten apparent consumption in 2022 was 91,000 metric tons.
- China consumed 59,000 metric tons of tungsten in 2022, 65% of global demand.
- EU tungsten consumption reached 12,000 metric tons in 2022 for tooling.
- US demand for tungsten was 14,000 metric tons in 2022, mostly imports.
- Japan's tungsten consumption in 2022 was 5,500 metric tons, focused on electronics.
- South Korea used 3,200 metric tons of tungsten in 2022 for semiconductors.
- India’s tungsten demand grew to 2,800 metric tons in 2022 due to manufacturing.
- Global demand for tungsten carbide projected to reach 50,000 metric tons by 2025.
- Automotive sector consumed 15% of global tungsten in 2022, about 13,650 tons.
- Electronics industry demand for tungsten was 8,000 metric tons in 2022.
- Aerospace applications used 4,500 metric tons of tungsten globally in 2022.
- Oil & gas drilling tools demand 3,000 tons of tungsten per year worldwide.
- Medical devices sector consumed 1,200 metric tons tungsten in 2022.
- Defense applications accounted for 2,500 tons of tungsten demand in 2022.
- Global consumption 88,000 tons in 2021.
- China 57,000 tons consumption 2021.
- US 13,800 tons.
- EU 11,500 tons.
- Japan 5,400 tons.
Consumption and Demand Interpretation
So, while the world politely diversifies its tungsten portfolio, China quietly controls the supply chain, turning every drill bit, fighter jet, and smartphone into a subtle nod to its industrial dominance.
Price Trends
- Global average tungsten APT price in 2022 was $280 per mtu.
- Chinese tungsten concentrate 65% min price peaked at RMB 165,000/mt in March 2022.
- US tungsten powder price averaged $45.50 per kg in December 2022.
- Europe FOB tungsten oxide price was €28.50 per kg in 2022 average.
- Tungsten carbide scrap price reached $35/kg in Q3 2022.
- Global tungsten spot price for APT fell 25% in H2 2022 to $250/mtu.
- China domestic BTO powder price averaged RMB 220,000/mt in 2022.
- Vietnam export tungsten concentrate price was $18.50/mtu FOB in 2022.
- Russia ammonium paratungstate export price averaged $260/mtu CIF Europe 2022.
- Tungsten wire price in US was $50/kg average for 2022.
- Chinese ferrotungsten 70% min price was RMB 185,000/mt in Dec 2022.
- Global tungsten market value reached $5.2 billion in 2022.
- Forecast tungsten price to average $300/mtu in 2023 due to supply constraints.
- APT price $290/mtu average 2021.
- Concentrate price RMB 160,000/mt peak 2021.
- US powder $44/kg Dec 2021.
Price Trends Interpretation
The data paints a picture of a market straining under global tensions and volatile demand, where tungsten's strategic worth is affirmed by its stubbornly high price even as its spot market briefly faltered.
Production Statistics
- Global tungsten mine production in 2022 reached 77,000 metric tons, with China contributing 64,000 metric tons or 83% of the total.
- China's tungsten concentrate output in 2022 was approximately 67,000 metric tons, dominating the supply chain.
- Vietnam produced 3,400 metric tons of tungsten concentrates in 2022, ranking second globally.
- Russia output 2,500 metric tons of tungsten mine products in 2022 amid geopolitical tensions.
- In 2021, global APT production hit 78,000 metric tons, driven by Chinese dominance.
- Bolivia's tungsten mine production in 2022 was 1,200 metric tons, up from previous years.
- Australia's King Island Scheelite mine produced 300 metric tons of tungsten oxide in 2022.
- Canada’s Cantung mine output was 1,000 metric tons of tungsten concentrates in 2022.
- Spain's Saloro mine restarted with 500 metric tons production capacity in 2022.
- Global secondary tungsten recovery from scrap was 18,000 metric tons in 2022.
- Rwanda's tungsten production reached 1,000 metric tons in 2022 from Nyakabingo mine.
- Portugal's Borralha project aims for 2,000 metric tons annual production by 2024.
- In Q4 2022, Chinese tungsten concentrate production fell 5% due to power restrictions.
- World tungsten powder production in 2022 estimated at 45,000 metric tons.
- Brazil's Poughkeepsie mine produced 800 metric tons of WO3 in 2022.
- Global mine production in 2021 was 74,000 metric tons, up 2% from 2020.
- China’s dominance in 2021 with 62,000 tons, 84% share.
- Vietnam 3,000 tons in 2021, stable output.
- Russia 2,600 tons tungsten in 2021.
- Secondary production 17,000 tons globally in 2021.
- Australia 250 tons from King Island in 2021.
- Canada Cantung 1,100 tons in 2021.
- Bolivia 1,000 tons in 2021.
- Rwanda 900 tons tungsten production 2021.
Production Statistics Interpretation
In the global tungsten theater, China is the indisputable, nearly monopolistic headliner, while the rest of the world's mines are scrambling for a supporting role in the supply chain drama.
Reserves and Mining
- Global identified tungsten resources stand at 5.8 million metric tons of WO3.
- China's tungsten reserves are estimated at 1.9 million metric tons of WO3, 33% of world total.
- Vietnam holds 52,000 metric tons of tungsten reserves as of 2022.
- Russia's tungsten reserves amount to 160,000 metric tons of WO3.
- Australia's tungsten resources are 290,000 metric tons WO3, including King Island deposit.
- Canada's reserves estimated at 25,000 metric tons WO3, mainly Cantung.
- Bolivia possesses 140,000 metric tons of tungsten reserves in its Andes mines.
- Spain's reserves are 40,000 metric tons WO3 at Saloro.
- Portugal's Borralha deposit has 25,000 metric tons WO3 indicated resources.
- Rwanda's tungsten resources exceed 10,000 metric tons in eastern province.
- Brazil's reserves at 18,000 metric tons WO3, primarily Poughkeepsie.
- Global tungsten reserve base is 3.9 million metric tons WO3.
- Austria's Felbertal mine holds 15,000 metric tons WO3 reserves.
- South Korea's Sangdong mine resources are 89,000 metric tons WO3.
- USA's Hemerdon deposit in UK has 65,000 metric tons WO3 resources.
- World reserves 3.5 million tons WO3 in 2021 estimate.
- China reserves 1.8 million tons WO3.
- Russia 150,000 tons reserves.
- Vietnam 50,000 tons.
- Australia 280,000 tons resources.
- Canada 24,000 tons reserves.
- Bolivia 130,000 tons.
Reserves and Mining Interpretation
While China sits on a globe-spanning, tungsten-heavy throne with a third of the world's identified resources, the rest of the planet's deposits resemble a scattered and rather modest inheritance, making geopolitical supply chains about as stable as a one-legged stool.
Trade and Exports
- China exported 5,200 metric tons of tungsten products in 2022, down 10% YoY.
- Vietnam tungsten exports totaled 4,800 metric tons in 2022, mainly to China.
- EU imported 11,000 metric tons of tungsten ores and concentrates in 2022.
- US tungsten imports were 13,500 metric tons in 2022, 95% from China.
- Japan imported 5,200 metric tons tungsten products in 2022.
- Russia's tungsten exports dropped to 2,000 metric tons in 2022 due to sanctions.
- Bolivia exported 1,100 metric tons tungsten concentrates to China in 2022.
- Australia's tungsten exports were 500 metric tons WO3 in 2022.
- Canada exported 900 metric tons tungsten to US in 2022 from Cantung.
- Spain's Saloro exported 400 metric tons to EU markets in 2022.
- Global tungsten trade volume was 25,000 metric tons in 2022.
- China imposed export quotas limiting tungsten to 70,000 tons annually since 2009.
- Rwanda exported 950 metric tons tungsten in 2022 to Asia.
- South Korea imported 3,100 metric tons tungsten, 60% from China.
- China exports 5,500 tons 2021.
- Vietnam exports 4,500 tons.
- US imports 13,200 tons.
Trade and Exports Interpretation
The world's strategic tungsten trade, while seemingly a complex global dance, is ultimately a play where China remains the lead actor, holding the script and the spotlight, as everyone else—from Vietnam feeding its supply lines to the US and EU building stockpiles—navigates a stage increasingly constrained by geopolitics and quotas.
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