CME Group Plans Tungsten Futures as Demand for Key Metals Grows

what happened

CME Group plans to launch tungsten futures, citing strong demand for its metals products. Trading could start in early 2027, provided regulators complete their reviews. Reuters and a company release distributed through TradingView reported the plan.

Annual tungsten output runs at 85,000 to 95,000 metric tons, and the global market is valued at more than $20 billion at current spot prices. Spot trading is active, but no futures market exists yet. The contract will settle financially against Fastmarkets' APT assessment, priced on a CIF basis in Rotterdam and Baltimore.

CME also said its metals business posted a record first nine months of 2026, averaging 1.2 million contracts a day, up 41% year on year.

why it matters

Tungsten is classed as a critical mineral by the US, EU, Japan and India, so a hedging tool could make pricing more transparent for manufacturers and traders. For the market, it signals wider institutional access to rare metals, though the effect on prices will depend on how liquid the new contract becomes.

market impact

Tungsten and metals producers: a new futures contract adds hedging tools and price transparency.

tags

instruments