On April 3, 2025, the Ministry of Natural Resources issued the first batch of tungsten ore (tungsten trioxide content 65%) mining total control index of 58,000 tons in 2025, which is 4,000 tons less than the first batch of 2024, a decrease of 6.45%. Among them, Heilongjiang, Zhejiang, Anhui, and Hubei have not allocated indicators, and Jiangxi, Guangdong, Guangxi, Yunnan, Gansu, and Xinjiang have lowered their allocation indicators to varying degrees.

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices remain strong. On the one hand, the first batch of tungsten mining total control indicators this year have been lowered, strengthening the view of tight supply; on the other hand, the tungsten raw material quotations of several large domestic tungsten companies have been raised, consolidating the market's support for the market.

The Organisation for Economic Co-operation and Development (OECD) discourse and institutional norms on critical minerals focus on supply chain security, sustainable development and responsible business conduct (RBC), aiming to address the importance and potential risks of critical minerals in the global economy, green transition and national security. The following is a systematic analysis of the OECD's discourse, institutional framework and implementation, and provides suggestions from the neutral perspective of China's critical minerals practitioners.

3TG refers to four critical minerals: Tantalum, Tin, Tungsten and Gold, which are named after the initials of their names. These minerals are in the spotlight due to their importance in global supply chains and their potential "conflict mineral" attributes, particularly in industries such as electronics, aerospace, automotive, and jewelry.

1. Introduction: The Strategic Position of Critical Minerals in the Global Economy and Security

Analysis of latest tungsten market from Chinatungsten Online

Tungsten prices rose on Monday, with obvious supply-side push and lagging demand-side response. The tungsten market is characterized by an interplay of supply and demand dynamics alongside policy interventions, resulting in a situation where prices are high but trading volume is low.  Industry participants generally awaiting the release of long-term procurement prices from major tungsten enterprises for the latter half of the month.

China's tungsten industry holds a dominant position globally, with a tungsten output of approximately 65,000 tons in 2024, accounting for 85% of the global total (China Tungsten Industry Association, 2024). However, the industry faces shortcomings in high-end products and technology (high-end cutting tools account for only 20% of the market, China Machine Tool & Tool Builders' Association, 2024) and a low recycling rate (about 10%). Although there has been no explicit significant tariff increase on China’s critical minerals yet, starting in 2025, many Chinese industries will face challenges from the U.S. escalating tariff war (with U.S. tariffs on China reaching up to 245%), prompting a need to reassess strategic positioning.

Molybdenum market update on April 21, 2025

At the start of the week, the domestic molybdenum market in China showed slight improvement, primarily reflected in continued modest price increases for mainstream products, heightened enthusiasm among traders, and an increase in market transaction volumes.

Analysis of latest tungsten market from Chinatungsten Online

This week, the overall tungsten price showed a stable upward trend, mainly manifested in the tight supply and high price of tungsten ore, and the passive price increase of smelters and alloy enterprises due to cost-driven. 

Molybdenum market update on April 18, 2025

The domestic molybdenum market in China exhibits a rebound from an oversold state, with prices of molybdenum concentrate and molybdenum oxide rising by approximately 10 yuan/ton-degree, and ferromolybdenum prices recovering to the 210,000 yuan/ton threshold.