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.

National policies, combining "domestic mining control and foreign export regulation," have significantly impacted the supply and demand structure of the tungsten market.

In 2025, the tungsten supply side saw a significant tightening, primarily driven by policy-driven quota controls and multiple external factors.

Since March 2025, China's tungsten prices have continued to rise, with a temporary surge in August, reaching a historical peak in early September, and doubling the price of major tungsten products this year.

Tungsten is widely used in a variety of fields due to its exceptional hardness, wear resistance, high temperature resistance, corrosion resistance, and high density. Tungsten's uses include:

Tungsten is a silvery-gray transition metal with the element symbol W and atomic number 74. It has a high melting point (3422°C), high density (19.35 g/cm³), high hardness, and excellent high-temperature resistance. It is widely used in aerospace, defense, electronics, electric light sources, and cemented carbide.

Tungsten resin is a composite material made from high-purity tungsten powder and polymer resin, renowned for its high density, eco-friendliness, and processing flexibility. Lead, as a traditional high-density material, has long been used in industrial, medical, and sports applications due to its low cost and good ductility. However, with growing concerns over environmental regulations and health safety, tungsten resin is increasingly replacing lead.

Tungsten resin (Tungsten Resin) is a composite material made from high-purity tungsten powder combined with various resins (such as polypropylene, polyurethane, or thermoplastic materials). 

As an advanced composite material, tungsten resin is increasingly valued in the nuclear industry. This material combines the unique properties of tungsten with the flexibility of resin, forming an efficient and reliable solution suitable for nuclear environments requiring high protection and durability.

As a novel composite material, tungsten resin is increasingly widely used in the medical field. This material combines the excellent properties of tungsten with the flexibility and ease of processing of resin, creating an efficient and environmentally friendly solution.