Raw tungsten prices have experienced a massive surge, with some benchmarks rising over 500% since early 2025 when Trump announced his renewed trade war with China. It is important to understand that China controls over 60% of the global tunsten mining operations and is responsible for up to 98% of tungsten manufacturing. Let's dive into what is happening within the tungsten market and how it will effect tungsten fishing products. . .
The dramatic increase in the cost of raw tungsten is largely driven by a combination of tight supply and surging demand, with China's 2025 export controls acting as a direct retaliatory move to US trade policies, including tariffs imposed by the Trump administration. China controls over 60% of the global tungsten mining operations and in some industries they are responsible for 98% of tungsten manufacturing. This would include the fishinng industry.
Shortly after US President Donald Trump returned to office and renewed trade actions, China introduced export controls on tungsten to "retaliate to US tech policies" and other US export policies on beef, soy and grains. The restrictions, which covered 25 tungsten-related products, fell heavily on the US and European supply chains.
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Rising Military Demand: The ongoing conflicts in Ukraine and the Middle East have spurred demand for tungsten in armor-piercing ammunition, missiles, and military aircraft, often referred to as a "fevered environment" due to depleted Western stockpiles.
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Increased Industrial Demand: The surge is also driven by civilian demand, particularly in the semiconductor industry and the photovoltaic sector, where tungsten filaments are increasingly used to cut silicon wafers. Additionally, this retaliation has had a significant impact on U.S. shale drillers (who use tungsten for drill bits).
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Strategic Stockpiling: The US Department of Defense and European nations are scrambling to secure non-Chinese supply, causing, as reported, a "supply vacuum", but with China controlling over 60% of tungsten mining and production, this has only added to the supply shortages.
What does that mean for fishermen? Currently, most manufactures are sitting on a stockpile of tungsten purchased prior to the dramatic surge in price of raw materials, so they haven't been effected by (or have noticed) the impact this will have on their pricing, BUT moving forward, companies will be forced to raise their prices OR pivot away from tungsten completely.
Does that mean companies will pivot towards US manufacturing? Not likely. China currently manufactures 98% of all tungsten jigs and fishing related products. While small companies will be able to do in-house casting of lead, the idea of bringing all manufacturing back to the US is idyllic. In truth, the cost of living in the United States remains too high for manufactures to offer a livable wage while maintaining competitive pricing in the market place. This remains the conundrum between the ideals of capitalism and the rise of nationalism. The two simply cannot co-exist.
What's Next? For now, the industry seems to be in a holding pattern. Currently, tungsten fishing product prices remain largely unaffected, but as supplies dwindle, manufacturers will be looking at a grim reality. The cost of replenishment, in some cases, will exceed their current retail price. This means prices will certainly double or even triple. Others will be pivoting back towards lead. For us fishermen, we will be staring at our new reality - a $15 tungsten jig or a lead jig for 1/3 the price. Considering the prices of
groceries and gas, most of us will be opting for the later.