How Much is Tungsten Worth?: All the Things you Need to Know

Did you know that there is a metal whose unique properties make it an essential component in a number of industrial applications?

Tungsten or wolframite is a very dense metal. If you throw it towards something it will just go through it because of its density. Tungsten has a very high melting point, and a hardness that is very close to diamond. It has very high density, thermally and chemically stable, and has excellent conductivity.

It is considered to be gentle with the environment. Its most important use is in the manufacture of industrial drilling and cutting tools. It is also used in making electronics and specialist steels.

In fact, tungsten has many important uses. With these uses you might be asking, how much is tungsten worth? In this article we'll explore that issue.

How much is tungsten worth is really a big uncertainty because there are things to consider when determining its current or going price. Pricing of tungsten also depends on what form it is being sold.

As of this date, the price of tungsten has been fairly high. The demand is increasing so there is definitely an expected increase in price and cost too.

There is a great demand for tungsten and the demand is going global. With the lucrative price of tungsten there is an increase in the number of mining companies interested in mining it. With this development the price would turn to become stable. So you see how much is tungsten worth is really determined by its supply and demand.

Factors That Affect the Worth of Tungsten

Like any other metal or commodity, there are factors that may affect its price, value or worth. Here are some of the variables that can affect the pricing of tungsten:

  • Demand in the market: Much consideration is given to how much tungsten is needed at a given time. Due to the high demand for it, tungsten is often priced fairly high.
  • Form of the tungsten: Since tungsten comes in chemical form, powder, plate, wire and rod, each form has a different price per kilo. Cost varies depending on the function of the raw material and the amount of work involved in producing the finished product.

Industries That Use Tungsten

Tungsten has found a big demand in the market as it is being used in many ways and forms. Tungsten carbide is used as a raw material by many industries due to its physical properties. It can resist wear and tear. Its malleability is very high and gets brittle under high pressure. The tungsten carbide is used in different industries like:

  • Machining industry: Tungsten is used to make cutting tools. Blades made of this maintain their sharpness that enables manufactures to produce cutting tools much faster.
  • War industry: Tungsten carbide is used to make armor piercing ammunitions. Tungsten's extraordinary properties paved the way to the development of a kind of missiles that work without explosives. It goes through armors and kills it. It is found out that bullets made of this are better.
  • Nuclear industry: Being an atomic reverberator, tungsten carbide was utilized in making nuclear weapons.
  • Sports industry: The pointed end of hiker trekking poles and roller skis are made of tungsten carbide for extra strength and resistance to abrasion. Tungsten carbide has now replaced steel because of its exceptional strength and smooth characteristics.
  • Fishing industry: A lot of fishermen find the use of tungsten in their fishing just great. With tungsten they are able to downsize their weight profile, increase their sensitivity, have a smaller, more compact bait profile and the most important of all is that it is safe to the environment.
  • Medical industry: For better performance, tungsten carbide is used to make tools used for surgery and other medical instruments.
  • Fashion industry: There are pieces of jewelry that are made of tungsten. They are very inflexible and scratch proof. Most of these jewelries are now being used and introduced in bridal or wedding events.

Having mentioned the industries that use tungsten, it seems as if there will be an enormous demand for this metal in the very near future. Even its worth will be on the upswing.

It has found an important place in the market especially where making armors and bullets are concerned. Pieces of jewelry, especially those used or worn in weddings that are made of tungsten are becoming a trend in the fashion world.

Even if there is a big demand for tungsten, the problem of shortage in supply is a dilemma because supply would not be able to meet the demand. With this in mind, the worth of tungsten will definitely go up tremendously. Despite the fact that tungsten is expensive, a lot of users would go for the extra cost in exchange of the favorable properties that tungsten has.​

Resources

http://www.tungsten.com/tips/tungsten-and-costs/

http://trustwaymetal.com/what-is-tungsten-carbide-worth/

http://mikewisnewski.fishing/the-pros-and-cons-of-tungsten/

http://www.recyclingproductnews.com/article/20581/tungsten-carbide-recycling-company-fills-market-niche

http://epsteinresearch.com/2015/04/29/tungsten-in-demand-but-how-to-invest-heres-a-possible-way/

http://www.bbc.com/news/magazine-28263683

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