The tungsten market has undergone a decisive re-rating over the past year, with prices rising sharply as supply constraints have converged with resilient industrial demand.
A prolonged period of limited capital investment in new supply has left the sector with little spare capacity. Existing operations in key producing regions are facing declining grades and rising regulatory expectations, which together restrict the pace at which output can expand. As a result, the market entered this phase of strengthening demand without the buffer of significant inventories or near term project completions. The repricing that followed can be viewed as the mechanism required to incentivise fresh capital and accelerate development decisions.
Demand has remained firm because tungsten occupies a specialised and difficult to replace role within modern manufacturing. Its unique physical characteristics, including exceptional hardness, density and heat resistance, underpin its use in cutting tools, drilling equipment and high performance components. Aerospace, semiconductor and defence industries all rely on tungsten based materials where durability and precision are essential.
Great Western Mining Corporation Plc (LON:GWMO) is a mineral exploration and development company, incorporated in Ireland with operations in the USA.
