According to Almonty Industries CEO Lewis Black, tungsten concentrate, a scarce metal critical to multiple industries, is experiencing surging global demand that extends well beyond Western markets. During a recent interview, Black noted that the price of tungsten has been higher in China than in the West for seven consecutive months, a phenomenon he described as unprecedented in his experience. This sustained price differential signals robust demand from Asian markets alongside traditional Western consumers, indicating a tightening global market that could have significant implications for manufacturing and technology sectors worldwide.
The demand surge is being driven primarily by three key sectors: the defense industry, semiconductor manufacturers, and the automotive sector. Black specifically pointed to declining interest rates as a factor revitalizing automotive demand for tungsten. While the supply and demand dynamics might appear chaotic to external observers, Black characterized the situation as "fantastic" for Almonty Industries, suggesting the company is well-positioned to benefit from these market conditions. Tungsten's applications span a wide range of critical technologies and industries, making its supply chain strategically important, with the metal's properties being essential in sectors requiring durable, heat-resistant materials.
The current demand pattern, with Chinese prices persistently above Western levels, represents a significant shift in global commodity markets. This development matters because tungsten is indispensable for numerous high-tech and industrial applications, and sustained price pressures could affect production costs across multiple sectors. The full interview with Lewis Black is available for viewing on Benzinga's platform, providing further insight into market dynamics and Almonty's position within the tungsten supply chain. This information was originally published by Benzinga, with the official release available through NewMediaWire.
