Tungsten Prices Canada | Rising Costs & Why You Need to Know

Here at Agescan Tungsten, we get many inquiries from Canadians about tungsten pricing. Tungsten is a vital metal used in various industries across Canada, and understanding the factors affecting its cost is crucial.

Why is Tungsten Priced Differently?

Unlike many metals, tungsten doesn’t have a one-size-fits-all price tag. Several factors contribute to the final cost you see:

Market Fluctuations: Tungsten ore prices constantly change. The London Metals Bulletin provides up-to-date pricing information.  For many years, China influenced market prices to gain market share. However, since 2004, factors like rising internal Chinese demand have caused significant price increases. Tungsten prices are typically quoted in MTUs (metric ton units).

Form of Tungsten: The product form significantly impacts the price. Tungsten chemicals, powder, plates, wires, and rods will all have different costs per kilogram. This variation reflects the raw material cost and the processing required to achieve the final form. Generally, expect a broad range of $25 to $2500 per kilogram for finished tungsten products, with most falling between $100 and $350 per kilogram.

The Future of Tungsten Pricing in Canada

As of today (April 2, 2024), tungsten pricing shows an upward trend. While there has been some recent stabilization, these higher prices seem to be the new normal. Several factors contribute to this trend:

A Weakening Dollar: A weaker US dollar makes tungsten more expensive for Canadians, as most tungsten is traded in USD.

Environmental Concerns: Growing global environmental awareness can affect mining practices, potentially impacting supply and driving prices up.

China’s Export Quotas: China’s decision to reduce tungsten export quotas has limited global supply, putting upward pressure on prices.

Looking Ahead

While prices are expected to continue rising in the long term, the increase might be slower than the recent dramatic surge. The rise in pricing has spurred renewed interest in tungsten mining worldwide, which could help stabilize prices moving forward.

Agescan Tungsten: Your Canadian Partner for Tungsten

Agescan Tungsten is a leading supplier of pure tungsten and tungsten alloys in Canada. We understand the importance of cost-effective solutions for Canadian businesses. We offer a wide variety of tungsten products and are happy to assist you in finding the best material for your needs.

Contact Agescan Tungsten Today

If you have any questions about tungsten or would like a specific quote, please don’t hesitate to contact Agescan Tungsten. Our team of experts is always happy to help!