Markets·October 19, 2026 at 6:00 AM EDT·3 sources
CME plans tungsten futures as demand for weapons rises
CME -0.1%
CME · last 30 trading days+4.0% since the news
News
CME metals average daily volume in first nine months of 20261.2 million contracts, up 41% year-on-year
Global annual tungsten production85,000 and 95,000 metric tons
Planned launchearly Q1 2027
What happened
- CME Group announced plans to launch financially settled tungsten futures by early Q1 2027, pending regulatory reviews.
- The contract will use Fastmarkets’ tungsten APT assessment, with delivery terms based on CIF Rotterdam and Baltimore.
- China has restricted exports of tungsten, a critical mineral used in armour-piercing munitions, according to the Financial Times.
Planned launch
early Q1 2027
Global annual tungsten production
85,000 and 95,000 metric tons
Estimated market value
over $20 billion
CME metals average daily volume in first nine months of 2026
1.2 million contracts, up 41% year-on-year
Why it matters
The contract could give manufacturers, traders and other market participants a new tool to hedge tungsten price and supply-chain risk as geopolitical restrictions increase market uncertainty.
What to watch. Regulatory reviews and whether trading begins by early Q1 2027.
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Timeline
- First reported by PR NewswireOct 19CME Group to Launch Tungsten Futures to Meet Rising Demand for Critical Minerals
- Financial Times reportsOct 19CME plans tungsten futures as demand for weapons rises
- Bloomberg reportsOct 19CME Plans Tungsten Futures as US, Europe Seek Price Stability
Who is involved
CME plans tungsten futures as demand for weapons risesCME GroupCMEFastmarketsChinaTechMet SCMGrondmetJin HennigQuentin LamarcheRaju Daswani
CompanyAgencyPerson
Sources (3)
- PR NewswireOct 19CME Group to Launch Tungsten Futures to Meet Rising Demand for Critical Minerals
- Financial TimesOct 19CME plans tungsten futures as demand for weapons rises
- BloombergOct 19CME Plans Tungsten Futures as US, Europe Seek Price Stability
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