TL;DR CNBC

The U.S. needs more of this critical metal — and China owns 80% of its supply chain

Publishing timestamp: 2024-07-02 21:15:03

Summary

Tungsten is a critical material used in various industries, with China dominating the supply chain. The Biden administration raised tariffs on tungsten imports, but China did not include the metal in new regulations. Companies outside of China are looking to diversify their tungsten supply chains, with expectations of higher demand and limited supplies leading to rising prices. The US is expected to run out of stockpiled tungsten and become a net buyer in the next 12-18 months.

Sentiment: MIXED

Tickers: NVDA,  2330-TW, 

Keywords: nvidia corp,  markets,  stock markets,  market insider,  business news,  taiwan semiconductor manufacturing co ltd, 

Source: https://www.cnbc.com/2024/07/03/us-needs-more-tungsten-china-is-a-major-supplier-of-the-critical-metal.html