China accounts for approximately 83% of global tungsten concentrate production (according to 2025 USGS data), with deep processing accounting for an even higher proportion, exceeding 90%, giving it a dominant position in the global tungsten supply chain. The export controls implemented on February 4, 2025, and the tightening supply, forced the global supply chain to reassess its reliance on China's supply chain. As of September 30, 2025, European APT prices had risen to USD 580-650/mtu (RMB 366,000-410,000/ton), an 86.4% year-to-date increase. Due to the extended export approval period and uncertainty in China, overseas purchasing has been disrupted, resulting in a significant reduction in inventories and further exacerbating global market tensions. Although overseas tungsten mine development projects (such as Sangdong in South Korea and Mactung in Canada) are progressing, production is limited and far from sufficient to offset the impact of reduced Chinese supply.