Authored by Lemuel Daher.
The tungsten market is at historic highs.
Rotterdam APT pricing of tungsten is US$3,185 per metric tonne unit, representing an increase of roughly 350% year-to-date, and surging around 900% over the last twelve months (Stockhead, 2026).
And if you want to know why tungsten is such an appealing metal right now – here at MarketSmart, we’d sum the answer up in two words:
Secured Demand.
Tungsten is essential. It is uniquely hard, uniquely dense, and has the highest metaling point of any metal. It has key industrial and manufacturing uses: it’s used in cutting tools, drilling equipment, mining machinery, etc.
That combination of high density, hardness, and heat resistance is also what lends the metal toward military defence and aerospace applications.
In other words, major defense and aerospace companies like Lockheed Martin, SpaceX, Northrop Grumman, RTX, General Dynamics, and Boeing are constantly on the lookout for more tungsten.
But this metal is further secured by the fact that, right now, the West is experiencing a major supply shortage.
As things stand, China produces over 80% of the world’s tungsten supply. Now, in light of China’s new export controls on the critical metal, many Western nations dependent on tungsten imports are having to look elsewhere for the critical metal.
These geopolitical tensions, combined with rising defense budgets and the secured demand of tungsten, play a significant role in the elevation of tungsten on critical minerals lists.
Despite this, there are currently no operating tungsten mines in North America.
Fox Tungsten Ltd. is perfectly positioned to seize this once-in-a-lifetime opportunity.
FOXT is focused on making new discoveries and building resources in proximity to infrastructure on the Company’s 100-percent-owned portfolio of diversified metals projects in British Columbia. Their ongoing 20,000-meter drill program is fully funded, and is set to both grow and explore the Fox Project. We can expect this campaign to form the foundation of an updated resource estimate and a planned PEA in the first half of 2027.
Works Cited
Batten, K. (2026, April 23). Stronger for longer pricing sets up tungsten juniors for development. Stockhead. Stronger for longer pricing sets up tungsten juniors for development | Stockhead
Attwood, J., Lee, A., & Lorinc, J. (2026, March 15). Munitions metal tungsten outshines gold, copper in 557% rally. Mining.com. https://www.mining.com/web/munitions-metal-tungsten-outshines-gold-copper-in-557-rally