CME Group plans to launch cash-settled tungsten futures in the first half of 2027, pending regulatory approval

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CME Group plans to launch cash-settled tungsten futures on COMEX in the first half of 2027. The contract requires regulatory approval and will not involve physical delivery. It will be based on Fastmarkets’ assessment of APT, helping companies and traders hedge price risk and providing a forward-pricing benchmark for the spot-dominated market. Tungsten product prices in China rose by more than 200% in 2025, while global annual output is approximately 85,000 to 95,000 metric tons. Export restrictions and defense demand have tightened supply.