Tungsten Supply Tightens, Union Metal Records Record Revenue in Q2, Up 450% Year-on-Year

(CNA Taipei, July 8) Global tungsten supply chains continue to tighten. Rare metal tungsten and cobalt recycling company Union Metal announced today that its consolidated revenue for June reached NT$750 million, an increase of 22% month-on-month and 555% year-on-year. In the second quarter of 2026, consolidated revenue was NT$1.9 billion, with sequential and year-on-year growth rates of 92% and 450% respectively, both setting new historical records.

Union Metal pointed out that tungsten prices are moving towards a dual-price system, with strong demand from international supply chains driving explosive operational growth. In the second quarter, Chinese tungsten prices and overseas tungsten prices officially diverged. Chinese tungsten metal prices returned to market mechanisms, but the international market is supported by demand from artificial intelligence (AI) applications, aerospace, military industries, and high-end automation, forming a dual-price system of 'significant volatility in Chinese prices, with international prices remaining high.' Union Metal's consolidated revenue in the second quarter set a new quarterly historical high, reflecting the structural growth opportunities under the global tungsten supply chain restructuring.

Union Metal explained that the addition of the Pingnan Second Plant to operations has increased sodium tungstate production capacity, becoming the main driver of growth in the second half of the year. Due to strong demand for international tungsten metal-related products, the market has been in a continuous state of undersupply since the fourth quarter of last year. In the first half of the year, sodium tungstate shipments continued to increase. It is estimated that with the Pingnan Second Plant commencing operations in the third quarter, the annual production capacity of sodium tungstate will increase by about 20%, becoming the main growth momentum in the second half of 2026.

Union Metal stated that with the official commencement of operations at the Pingnan Second Plant and the simultaneous initiation of construction at the Pingnan Third Plant and Pingke Plant, the company's high-value product layout is accelerating across the board. It is expected that pilot production of high-end tungsten products such as tungsten oxide, tungsten powder, and tungsten carbide will be completed by the end of 2027, with mass production commencing in 2028. At that time, the company will possess complete process capabilities from tungsten resource recovery to high-end alloy materials, with both product value and production capacity increasing simultaneously, further driving operational growth momentum. (Editor: Lin Kelun) 1150708

Stand with facts, and your every contribution is a force to protect the freedom of the press.

Download the CNA "One-Stop News" APP for real-time updates.

The text, images, and audio on this website may not be reproduced, broadcast, transmitted, or used without authorization.