Prices
Updated: June 9, 2026| Exchange / Source | Price | Unit | Date |
|---|---|---|---|
| Spot | $6.3400 | USD/troy oz | June 9, 2026 |
About Tungsten
Editorial overviewWhat is tungsten?
Tungsten is a very dense, high-melting-point transition metal used mainly in hard materials and high-temperature applications. In industry, it is best known as the metal in tungsten carbide for cutting and wear-resistant tools, and it is also used in alloys, steels, electrodes, and chemicals. USGS MCS 2026
How tungsten is priced
No active regulated exchange contract as of June 2026. Prices reported by Fastmarkets / Argus from OTC dealer market only.
Where tungsten comes from
According to USGS MCS 2026, the leading tungsten mining countries in 2025 were China, Vietnam, Russia, Kazakhstan, and North Korea. USGS shows China far ahead at 67,000 metric tons, with Vietnam at 3,000, Kazakhstan at 2,400, Russia at 2,000, and North Korea at 2,000. USGS MCS 2026 Full breakdown in the production and reserves sections.
Who produces tungsten
China is the dominant producer through state and state-linked mining and processing, while other notable producers include Almonty Industries in South Korea and Portugal, and emerging project developers in Kazakhstan and Canada. USGS MCS 2026 Full list of producers below.
What tungsten is used for
In the United States, about 60% of tungsten consumption goes into cemented carbide parts for cutting and wear-resistant applications, while the remainder is used in alloys and specialty steels, electrical and lighting components, welding, and chemicals. USGS MCS 2026
Key facts about tungsten supply
- USGS MCS 2026: world tungsten mine production was 85,000 metric tons in 2025, up from 82,000 in 2024. USGS MCS 2026
- USGS MCS 2026: world reserves were more than 4,700,000 metric tons, which is about 55 years of cover at 2025 mine output. USGS MCS 2026
- USGS MCS 2026: China accounted for 67,000 metric tons of 2025 mine production, or roughly 79% of the world total. USGS MCS 2026
- USGS MCS 2026: the United States has not mined tungsten commercially since 2015 and has net import reliance above 50%. USGS MCS 2026
- USGS MCS 2026: import sources for ores, concentrates, and other forms in 2021–24 were China 26%, Germany 14%, Bolivia 8%, and Vietnam 8%. USGS MCS 2026
Sources: USGS Tungsten MCS 2026, BGS tungsten production update
Mine Production by Country
Source: USGS MCS 2026| Country | 2024 | 2025e | Reserves |
|---|---|---|---|
| United States | | | NA |
| Australia | e920 | e1,000 | 570,000 |
| Austria | e840 | e840 | 10,000 |
| Bolivia | e1,700 | e1,700 | NA |
| China | e67,000 | e67,000 | 2,500,000 |
| Kazakhstan | | e2,400 | NA |
| Korea, North | e1,900 | e2,000 | 29,000 |
| Portugal | e650 | e700 | 3,400 |
| Russia | e1,500 | e2,000 | 400,000 |
| Rwanda | e1,300 | e1,300 | NA |
| Spain | e700 | e800 | 66,000 |
| Vietnam | e3,400 | e3,000 | 170,000 |
| Other countries | e1,700 | e2,400 | 950,000 |
| World total (rounded) | 82,000 | 85,000 | >4,700,000 |
Unit: metric tons. "e" = estimated, "W" = withheld, "NA" = not available. Source: USGS Mineral Commodity Summaries 2026
Reserves by Country (Top 10)
Source: USGS MCS 2026| Country | Reserves (metric tons) |
|---|---|
| China | 2,500,000 |
| Other countries | 950,000 |
| Australia | 570,000 |
| Russia | 400,000 |
| Vietnam | 170,000 |
| Spain | 66,000 |
| Korea, North | 29,000 |
| Austria | 10,000 |
| Portugal | 3,400 |
| United States | NA |
| World Total | >4,700,000 |
Major Producers (12)
Canada
AII
Undisclosed Output
Not disclosed
FY2024
Key mine: Panasqueira (Portugal)
China
State-Owned
Undisclosed Output
Not disclosed
Key tungsten operations: Shizhuyuan, Xianglushan, Xikuangshan, Yuanjing Tungsten, Jiangxi mines
China
002378
Undisclosed Output
Not disclosed
FY2024
Key mines: Taoxikeng, Xin Anzi, Dayu Shilei; Jiangxi operations
Bolivia
State-Owned
Undisclosed Output
Not disclosed
FY2024
Colquiri mine: tin and zinc primary; tungsten not reported in official FY24 disclosures
Vietnam
MSR
Undisclosed Output
Not disclosed
FY2025
Key mine: Nui Phao
North Korean Mining Bureau (DPRK — state producer)
North Korea
State-Owned
Undisclosed Output
Not disclosed
Undisclosed
State-owned; no public annual reports found on official sites
Russia
Private
Undisclosed Output
Not disclosed
N/A
Vostok-2 tungsten-molybdenum deposit operations
Ruanda Minerals SARL (Rwanda Tin and Tungsten cooperatives network)
Rwanda
Undisclosed Output
Not disclosed
Likely Rwanda tin/tungsten cooperatives network (possibly FECOMIRWA-related); no primary production report found
Australia
TGN
Pre-production
Not yet in production
FY2025
Pre-production explorer (Mt Mulgine, Hatches Creek, Watershed); King Island Scheelite = Group 6 Metals (G6M), separate producer at Dolphin mine (420 t WO3 FY24)
Austria
Subsidiary → SAND:STO
Undisclosed Output
Not disclosed
N/A
Mittersill mine (scheelite), St. Martin smelter/powder production
China
600549
Undisclosed Output
Not disclosed
FY2024
Key mines: Luoyang Yulu, Ninghua Xingluokeng, Duchang Jinding (Jiangxi operations)
Spain
NASDAQ:ALM / TSX:AII / ASX:AII / Frankfurt:ALI1
Latest News
All metals news →Frequently Asked Questions
Auto-generated from primary-source dataWhat is the current price of tungsten?
As of June 9, 2026, Tungsten traded at $6.3400 USD/troy oz on Spot. Prices update multiple times per business day on TSM Hub from exchange and benchmark feeds.
Which countries produce the most tungsten?
The largest tungsten producing countries are China (e67,000 metric tons), Vietnam (e3,400 metric tons), Korea, North (e1,900 metric tons). Source: USGS Mineral Commodity Summaries 2026.
Which countries hold the largest tungsten reserves?
The countries with the largest reported tungsten reserves are China (2,500,000 metric tons), Australia (570,000 metric tons), Russia (400,000 metric tons). Source: USGS Mineral Commodity Summaries 2026.
Who are the largest global producers of tungsten?
Among 780+ producers tracked on TSM Hub, the largest disclosed tungsten producers include Almonty Industries Inc. (Canada), China Minmetals Corporation (CNMC) (China), Chongyi Zhangyuan Tungsten Co., Ltd. (China). Some operating tungsten producers do not publish metal-specific tonnage — such as Almonty Industries Inc. (Canada), China Minmetals Corporation (CNMC) (China), Chongyi Zhangyuan Tungsten Co., Ltd. (China) — and are listed with an “Undisclosed Output” badge instead of a rank, in line with our principle of never inventing numbers absent from primary sources. Full ranking with primary-source links is available in the producers section.
Where can I find official tungsten price data?
Official tungsten prices are published by Spot. TSM Hub aggregates these feeds under licensed market-data redistributor agreements and updates them twice daily.
What is the primary source for tungsten production and reserves data?
Country-level tungsten production and reserves figures on TSM Hub are sourced directly from the USGS Mineral Commodity Summaries 2026, the U.S. Geological Survey's authoritative annual reference. Company-level production figures come from each producer's official annual report, production report, or regulated exchange filing.