CME to launch tungsten futures to meet rising demand for critical minerals

CME Group on Monday said it will launch tungsten futures to meet rising demand for its metals complex, which registered record volume this year.

* 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.