This is what a Chinese export ban looks like after one year: collapsing supplies, soaring prices

by Inside China Business [2-13-2026].

Just one year following China's export restrictions on tungsten, prices have more than tripled, even in China.

Defense contractors are scrambling for new sources of tungsten, a crucial component of munitions, missiles, and armored vehicles.

But civilian users of the metal are also deeply impacted, as it is widely used in heavy manufacturing, automaking, and electronics.

China is the world's leading producer of tungsten, but also by far the world's largest consumer of it. So while Chinese regulators are obviously concerned that their tungsten may be used by foreign militaries, the metal is also in high demand across China's own industrial sectors.

Closing scene, Shiziguan Floating Bridge, Hubei