Considering how tough and durable tungsten is, it is not really surprising how tungsten rings are quickly rising to the top when it comes to wedding bands and men’s jewellery.
Tungsten rings are known for their extraordinary hardness. Ranking at 8-9 on the Mohs hardness scale, there is a huge difference between tungsten and softer traditional metals like gold, silver, and platinum.
Tungsten rings are also easy to clean and maintain. They are resistant to scratch, and they won’t tarnish, fade, discolour, corrode or rust even through constant exposure to the elements. These are just a few of the reasons why tungsten rings are so popular!
Given these wonderful qualities, one might wonder about the price of tungsten. What does tungsten cost?
How expensive is tungsten?
Due to its popularity, you might think that tungsten is an attractive investment. It might be, but because it is considered a strategic material by the US government, tungsten cannot be traded as a commodity in the market.
Tungsten does not occur naturally as a metal. Instead, it is found in ores like scheelite and wolfram. Most of the world’s supply of tungsten, as high as 85%, comes from China. In 2013 alone, China produced around 68,000 metric tonnes while Russia, the second highest producer of tungsten, produced 3,600 tonnes.
So what does tungsten cost?
There is no particular answer regarding the price of tungsten or any tungsten product because many variables come into play. The first thing to consider is the form of tungsten. There are several forms of tungsten, including tungsten powder, tungsten chemicals, tungsten wire, tungsten rod, and tungsten plate. Each of these forms commands a different price per kilo. To give you an idea of the broadness of the price range, finished tungsten products can be priced from $25 to $2500 per kilo.
The second factor is market consideration. The going rate for tungsten ore, tungsten powder, or tungsten concentrate affects the cost of tungsten greatly. You need to consider the demand for tungsten as it is used in many industries from construction to mining, from manufacturing to jewellery-making.
Tungsten, being a very durable and tough metal, is extensively used in so many industries. This only means that the increase in demand for tungsten will also drive up its price in the future.