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Tungsten Futures Debut as Demand Surges
19 Oct
Summary
- CME Group will launch tungsten futures in early 2027.
- The global tungsten market is valued over $20 billion annually.
- Tungsten is designated a critical mineral by multiple nations.
CME Group announced plans to introduce tungsten futures contracts, aiming for a launch in early 2027, subject to regulatory approvals. This initiative responds to a significant increase in demand within the metals complex, which recently achieved record trading volumes.
The global tungsten market is substantial, valued at over $20 billion annually with an estimated production of 85,000 to 95,000 metric tons per year. Its strategic importance is underscored by its designation as a critical mineral by key economic powers such as the United States, the European Union, and Japan.
Currently, while a spot market for tungsten exists, there is no established futures market. The new CME contract will be financially settled based on the Fastmarkets assessment for tungsten ammonium paratungstate. This development follows a record-breaking performance for CME Group's metals business in the first nine months of 2026, with daily trading volume increasing by 41% year-on-year.
