Since the beginning of the year, the price of tungsten has risen infrequently, and the prices of major products such as tungsten concentrates, ammonium tungsten and tungsten have risen by more than 200 per cent, raising market concerns. Data show that China accounted for 83 per cent of the world ' s tungsten mineral production, at 67,000 tons in 2024. In February this year, the Ministry of Commerce, together with the General Customs Administration, issued a circular on the export control of a wide range of rare metals products, including tungsten, and related technologies, while the domestic fight against smuggling and illegal exploitation continues to increase. Under policy constraints, domestic and external spot resources have become more tight, pushing prices further higher. In addition to the basics of supply and demand, industry has indicated that the global economy at the end of the year is also pushing up tungsten prices. ♪ Look at the money ♪