Chinese buyers drive US tungsten scrap bidding war: price signals for mine planners
Reviewed by Tom Sullivan

First reported on MINING.com
30 Second Briefing
Chinese traders are driving a bidding war for US tungsten scrap, with Argus Media data showing scrap prices up 350% since May 2025, outpacing a 200% rise in tungsten metal and pushing ammonium paratungstate to record highs in late April. Dealers report offers at up to five times normal market prices as Chinese buyers bypass domestic recyclers and route material via recycling hubs in the Philippines, Taiwan, Vietnam and South Korea to circumvent China’s scrap import ban. The scramble comes amid Chinese export controls on tungsten products and US plans for up to $1.6 billion support for a Kazakhstan tungsten mine to diversify supply.
Technical Brief
- China’s mined and refined tungsten output exceeds 50% of global production, yet is constrained by quotas.
- US scrapyards report direct approaches from Chinese traders, bypassing established domestic recycling channels and contracts.
- Some US dealers describe premiums at “up to five times” usual tungsten scrap market levels.
- Environmental rules in China ban direct tungsten scrap imports, so processing is shifted to offshore recyclers.
- Project Blue data show rising US tungsten scrap exports to hubs in the Philippines, Taiwan, Vietnam and South Korea.
Our Take
In our database of tungsten items, the only other large financing move this year is Almonty Industries’ US$700 million note issue, suggesting primary mine developers are positioning to capture the same tightness now visible in US tungsten scrap pricing.
The mention of a US-backed US$1.6 billion support package for a Kazakhstan tungsten project signals that Washington is willing to underwrite non‑US supply chains, which could blunt China’s leverage over scrap but also lock US industry into long‑haul logistics for ammonium paratungstate and related products.
With zinc and semi‑processed zinc concentrates also referenced alongside tungsten in this piece, the Castellanos project in Cuba sits in a basket of polymetallic assets that could become more strategic if scrap‑driven price spikes push manufacturers to secure long‑term concentrates rather than rely on secondary feed.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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