China plans to restrict exports of a critical metal. But the market isn't that worried

Published On Nov 28, 2024, 6:04 PM

A tungsten mine has opened in South Korea as part of efforts to supply critical minerals outside of China. This comes at a time when China is imposing export restrictions on tungsten, a metal essential for various industries including weapons and semiconductors. The new mine, operated by Almonty Industries, aims to meet rising U.S. demand for tungsten, particularly as the U.S. government has started banning purchases of tungsten mined in China. With the U.S. increasing tariffs on Chinese tungsten, the overall market dynamics are expected to shift, potentially boosting prices and production elsewhere.