Tungsten Supply Crisis Amid Ongoing Geopolitical Conflicts

The ongoing Iran war and the conflict in Ukraine have led to significant supply shortages of tungsten, a critical metal used in various industries, including defense. The U.S. heavily relies on tungsten for munitions, with China controlling 80% of global supply and recently tightening export controls. The U.S. has no significant domestic production, prompting concerns over national security and supply chain vulnerabilities. As prices surge due to the war-related demand, new mining operations are being explored in Kazakhstan to mitigate the crisis. The geopolitical landscape is further complicated by potential diplomatic resolutions between the U.S. and Iran, which could impact metal prices and supply chains. Analysts warn that the current situation reflects a broader trend of resource nationalism affecting critical minerals globally.

Key Points: • Tungsten supply is critically impacted by the Iran war and the Ukraine conflict. • China controls 80% of global tungsten supply and has imposed strict export controls. • New mining operations in Kazakhstan are being developed to address tungsten shortages.