Tungsten Stocks are Hot (Again)

Dow Jones08-27 22:30

And this time, it isn't just crypto bros and the chronically online getting into the game. Shares of tungsten miner Almonty Industries are on pace for their best month since June 2025, up 65%. Shares of American Tungsten are up 21% month-to-date.

Tungsten is valuable because it's dense-1.7 times as dense as lead-and has one of the highest tensile strengths and melting points among metals. The novelty of its density, specifically in the form of small cubes, is what sent the metal soaring during the pandemic.

Semiconductors, AI chips and aerospace parts all use the metal. Even weapons, some of which spray tungsten shrapnel to maximize damage.

According to the U.S. Geological Survey, China controls about 80% of the world's tungsten supply.

The U.S. recently banned the export of tungsten waste for one year. The Trump administration has also facilitated a tungsten mining project in Kazakhstan.

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