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CME to Launch Tungsten Futures
CME Group plans to launch tungsten futures contracts starting in the first quarter of 2027, aiming to enable traders and producers to hedge against price fluctuations. The cash settlement for the contracts will be based on evaluations by Fast Markets, and the delivery terms will be specified at the ports of Rotterdam and Baltimore. This development comes amid a surge in tungsten prices to more than eight times their levels from two years ago, driven by Chinese export restrictions and the metal's classification as a critical resource used in defense industries and aerospace science. The market is valued at over $20 billion, with annual production ranging between 85,000 and 95,000 tons.
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