China International Capital Co estimates global tungsten supply deficits of
23,000t, 24,000t, 24,000t and 25,000t in 2026–2029, equivalent to 14.6%, 14.8%,
13.9% and 14.3% of global tungsten use (primary + scrap). Citing rising new
demand and growing strategic importance, the firm says supply should remain
tight; after a short-term sharp price fall, China domestic tungsten prices are
likely to stabilize and recover, boosting the allocation appeal of global
tungsten industry leaders.
