CME Group To Launch Tungsten Futures; Trading Will Start By Early Q1 2027

With annual production between 85,000 and 95,000 metric tons, the global tungsten market is worth over $20 billion based on current spot prices. It has been identified as a critical mineral by the U.S., the E.U., Japan, India and others. Tungsten has an active spot market but lacks a futures market. The contract will be financially settled based on the Fastmarkets assessment for tungsten APT (Ammonium Paratungstate) duty unpaid basis CIF Rotterdam and Baltimore.