The tungsten is an essential component in many industrial applications, including tools for drilling and cutting, electronic and special steels. The European Union has classified the tungsten as a "critical raw materials". China currently produces 85% of the world's tungsten, but because of the needs of its industry it must also import.U.S., Europe and Japan consume 55% of the world's tungsten, but produce only 5%.

Some large end-user begins to manifest interest in expanding fields that are not in China, to obtain stable supplies of tungsten and not under Chinese control. As reported in the Metal Investment News is not surprising that prices have soared over the past year, whereas many other commodities have experienced a decline in prices.

A new and growing market alloys are the nickel-tungsten, which may soon replace the gold-nickel.

The British Geological Survey (BGS) tungsten ranking fourth in the list of minerals at risk of supply shortfalls.

Tungsten is an indispensable product for the industry but insignificant in terms of costs even at high prices. You could compare it to the salt in a bag of chips. Even if you tripled the price of salt, perhaps the price of the bag of chips would rise by a penny. But a bag of chips without salt could not sell to anyone.

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