CME to launch tungsten futures to meet rising demand for critical minerals
Agencies* The contracts are expected to begin trading in early 2027, pending relevant regulatory approvals, CME said in a statement
* With annual production of 85,000 to 95,000 metric tons, the global tungsten market is worth more than $20 billion at current spot prices and has been designated a critical mineral by the US, the European Union, Japan, India and other countries
* While tungsten has an active spot market, it currently lacks a futures market, CME said
* The contract will be financially settled against the Fastmarkets assessment for tungsten ammonium paratungstate on a duty-unpaid, cost, insurance and freight basis in Rotterdam and Baltimore, CME said
* Trading in CME Group's metals business set a new record in the first nine months of 2026, with a total of 1.2 million contracts traded daily across precious and industrial metals activity, up 41% year-on-year, the group added.