The price of one of the most critical materials for the Western world’s economy and defenses is spiking faster than any major commodity.
Tungsten, used to harden steel in ballistic missiles and in drill bits, has surged more than 50% in the last two months amid growing concern about supply cutbacks in China, where about 80% of the metal comes from. The country is clamping down on polluting mines and enforcing production quotas.
