CME Launches Tungsten Futures in 2027

CME Group is set to launch tungsten futures in early 2027, pending regulatory approvals, to meet the rising demand for critical minerals. The global tungsten market is worth more than $20 billion at current spot prices, with an annual production of 85,000 to 95,000 metric tons.

The tungsten futures contract will be financially settled against the Fastmarkets assessment for tungsten ammonium paratungstate. The contract will be settled on a duty-unpaid, cost, insurance and freight basis in Rotterdam and Baltimore.

Tungsten has been designated a critical mineral by several countries, including the US, the European Union, Japan, and India. This designation highlights the importance of tungsten in various industries, including manufacturing and technology.

CME Group's metals business has seen significant growth, with a record 1.2 million contracts traded daily across precious and industrial metals activity in the first nine months of 2026. This represents a 41% year-on-year increase in trading activity.

## Why it matters The launch of tungsten futures is significant, as it will provide a new hedging tool for market participants and help to meet the rising demand for critical minerals. The global tungsten market currently lacks a futures market, and the introduction of this new contract will help to increase transparency and price discovery in the market.

The growth of CME Group's metals business is also a positive indicator for the launch of the tungsten futures contract. The increased trading activity in precious and industrial metals suggests that there is a strong demand for these types of contracts, and the tungsten futures contract is likely to be well-received by market participants.

Overall, the launch of tungsten futures by CME Group is an important development in the global tungsten market, and it will provide a new opportunity for market participants to manage their risk and gain exposure to this critical mineral.