JANUARY 14, 2026 • 09:42 CDT
Market Dashboard
Last updated: 2 min ago
Futures & Spot Prices
All prices in USD • 20 sources aggregated
Commodity Contract Price 24h 7d Signal
Tungsten (WO₃) APT, Europe $342 / mtu +4.2% +11.8% Strong buying
Cobalt LME, 99.8% $28,450 / tonne -2.8% -7.4% DRC risk
Nickel LME 3M $15,875 / tonne +1.4% +3.9% Stable
Molybdenum Ferro-moly 65% $48.50 / lb +3.1% +9.2% Strong demand
Vanadium V₂O₅, China $4.85 / lb -1.9% +2.4% Quiet
Market Developments Last 72 hours
Chinese tungsten export licenses extended through Q3 2026
MOFCOM announced new licensing regime. Defense and aerospace buyers expected to receive priority allocation.
Glencore increases cobalt offer prices by $1,200/tonne for Q1 deliveries
Multiple European cathode producers have accepted the new pricing, signaling bottoming behavior.
US DoD awards $47M contract for domestic tungsten processing capability
Direct beneficiary: potential new offtake agreements for non-Chinese APT producers.
Policy & Export Controls
China — Tungsten Export Licensing (Extended)
Effective through Sept 2026 • High impact
DRC — Cobalt Export Ban Discussions
Ongoing parliamentary debate • Medium impact
US — Section 232 Investigation (Nickel)
Preliminary determination expected Feb 2026