Category: Stockonomics

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Japan’s Nikkei suffers worst day since the Black Monday crash of 1987

Japan stocks crash!

Japanese stocks entered a bear market on Monday 5th August 2024 as the sell-off in Asia markets continued from the previous week. The Nikkei 225 fell over 12%

These benchmark indices have now declined more than 20% from their peak on 11th July 2024 – the index then touched 42000.

The Nikkei suffered over a 12% loss, closing at 31458, marking its worst performance since the ‘Black Monday’ of 1987. This drop of 4451 points is also the largest point loss in its history.

Year to date, the Nikkei has relinquished all its gains, shifting into a negative territory.

Nikkei one year chart

Nikkei one year chart

Nikkei one day chart – down 12.4% on the day a total of 4451 points

Nikkei one day chart – down 12.4% on the day a total of 4451 points
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Asia markets fall as Japan’s Nikkei drops 5% to an 8-month low

Nikkei falls

Japan’s benchmark indices plummeted on Friday 2nd August 2024, with most Asia-Pacific markets lower after a sell-off on Wall Street created recession worries.

The Nikkei 225 index plunged around 5.80% to close at 35909, its most significant fall since March 2020, dipping below the 36000 for the first time since January 2024.

The Nikkei recently record a high of 42000

Nikkei 225 one-year chart 2nd August 2024

Nikkei 225 one day chart 2nd August 2024

Nikkei 225 one day chart 2nd August 2024

The broader Topix index experienced an even steeper decline of 6.14%, marking its worst performance in eight years, ending the day at 2537.

Daiwa Securities emerged as the biggest loser on the Nikkei index with an 18.85% erosion of its market cap.

Other prominent stocks also suffered losses; Softbank Group’s shares dropped over 8%, while trading giant Mitsui recorded a decline of more than 10%.

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Amazon, Intel, Meta, Nintendo, Apple, Snap, Qualcomm and others report – here’s a brief round-up

Reports summary 31st July 2024 -1st August 2024

Amazon offers weak guidance citing Olympics and the Trump assassination attempt as cause (consumers are distracted). However, Amazon’s cloud unit reports 19% revenue growth, topping estimates and a 20% increase in business in Q2. Amazon stocks pull back after guidance update.

Intel endures a 22% share plunge dragging down other global microchip stocks from TSMC, ASML to Samsung. Company to cut 15% of workforce, reports quarterly guidance miss.

Meta shares climb 6% on positive earnings data and good revenue forecast. Zuckerberg enthused over AI and how it’s helping create profits suggesting ‘Meta’s advertising growth is proof that BIG AI spending is already paying off.’ However, Meta’s Reality Labs posts $4.5 billion loss in second quarter.

Nintendo profit falls 55% as sales of its ageing Switch console plunge. Nintendo revenue and profit plunged in Q1 as sales of its ageing Switch console decline. Nintendo sold 2.1 million units of its Switch consoles, down 46% on the year. Investors are seeking news surrounding a successor to the Nintendo Switch console.

Apple sales climbed 5%, topping estimates as iPad and services revenue lift despite ongoing issues with iPhone sales slipping in China. Apple is spending more on AI but remains way behind its peers.

Snap shares plunge more than 20% on weak guidance.

Qualcomm beats estimates as phone microchip sales up 12%.

Samsung Q2 revenue and profit comes in above estimates amid strong AI demand.

AMD jumps 5% as global microchip stocks rally. Data centre sales doubled.

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Microsoft says OpenAI is now a competitor search and AI

AI competition

Microsoft’s list of competitors, which is updated regularly, now features OpenAI, previously a long-term strategic ally.

This development follows OpenAI’s announcement of a search engine prototype.

As OpenAI’s exclusive cloud provider, Microsoft leverages OpenAI’s AI models for products aimed at commercial clients and consumers. Microsoft, OpenAI’s largest investor, has reportedly invested some $13 billion in the firm.

Microsoft’s filing lists OpenAI, the entity behind the ChatGPT chatbot, as a competitor in AI solutions, as well as in the realms of search and news advertising. OpenAI recently unveiled a search engine prototype named SearchGPT.

However, recent developments suggest a shift, with both companies encroaching on each other’s domains.

While some opt to directly pay OpenAI for model access, others utilise Microsoft’s Azure OpenAI Service. Additionally, Microsoft offers the Copilot chatbot as an alternative to ChatGPT, accessible via the Bing search engine and Windows operating systems.

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Arm issues light earnings guidance but latest results exceed expectations

Arm Holdings

Arm results exceeded expectations, but earnings guidance disappointed.

The chip-design company has ceased disclosing the quarterly shipment numbers of its chips.

Arm’s shares dropped over 13% in after-hours trading on Wednesday following the chip-architecture firm’s announcement of modest earnings projections for the current quarter and the entire fiscal year.

Shareholders report

Total revenue was a record $939 million, up 39% year-on-year

Royalty revenues were up and amounted to $467 million, this represents a 17% increase.

Licence and other revenue was $472 million, up 72% year-on-year.

Arm’s revenue increased by 39% year-on-year for the quarter ending 30th June 2024, as reported in a shareholder update. The net income reached $223 million, a significant rise from the previous year’s $105 million.

Arm has kept its full year forecast unchanged, projecting revenues between $3.8 billion and $4.1 billion.

For the upcoming fiscal Q2, Arm anticipates revenues ranging from $780 million to $830 million. This projection suggests no mid-range growth, contrasting with some analysts’ expectations of $804.1 million in revenue.

Arm Holdings one day share price mid-day 1st August 2024

Arm Holdings one day share price mid-day 1st August 2024
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Rolls-Royce shares surge to all-time high as dividend is reinstated

Rolls-Royce

Rolls-Royce shares surged over 11% to reach a record high on Thursday 1st August 2024 following the reinstatement of its dividend and an increase in its profit outlook, buoyed by robust first-half results

The British aerospace and defence giant announced an underlying profit of £1.1 billion for the first half of the year and projected this to grow to between £2.1 billion and £2.3 billion for the full year of 2024.

This projection surpasses the previous forecast of £1.7 billion to £2.0 billion made in its full-year results for 2023 and exceeds market expectations.

Rolls-Royce one-year share price as of: 1st August 2024 (12pm)

Rolls-Royce one year share price as of: 1st August 2024 (12pm)
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ASML and AMD shares climb on positive U.S. geopolitical news

U.S. and China microchips

ASML

Shares in the Dutch company ASML soared by around 10% on Wednesday 31st July 2024 following a Reuters report indicating that the firm might be exempt from the broadened export restrictions on chipmaking equipment to China.

Additionally, it was also reported that the U.S. is contemplating an expansion of the foreign direct product rule.

U.S. chip export restrictions to China could exclude allies such as the Netherlands, Japan, South Korea, Israel, Taiwan, Singapore and Malaysia. Taiwan is the home of TSMC, the world’s biggest chip manufacturing plant.

AMD

Shares of global semiconductor companies surged on Wednesday 31st July 2024, lifted by positive earnings within the sector and reports suggesting potential easing of U.S. export restrictions to China.

AMD emerged as one of the standout performers, with its shares climbing over 9% in U.S. premarket trading following a robust second-quarter earnings report.

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Apple’s iPhone crown slips again in China

Mobile

Apple has been ousted from the top five smartphone vendors in China during Q2, as local brands like Huawei continue to escalate competition

Apple is no longer among the top five smartphone vendors in China as local brands take over the market.

Apple’s market share in China has declined, falling to 14% in the second quarter from 15% in the first quarter and 16% 2023.

For the first time in history, domestic vendors have taken over all top five positions in China.

According to reports, incorporating Apple’s Intelligence systems in its products in mainland China will be crucial over the next 12 months, as Chinese brands are rapidly integrating generative AI into their designs.

This is not good news for Apple. The company is facing challenges, notably lagging behind in the AI innovation race, and compounded by a rapidly falling share of the mobile market in China.

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OpenAI announces a search engine called SearchGPT

A new powerful search engine

OpenAI on Thursday 25th July 2024 announced a prototype of its search engine, called SearchGPT, which aims to give users “fast and timely answers with clear and relevant sources.”

The company has announced plans to eventually incorporate the tool, presently in testing with a select user group, into its ChatGPT chatbot.

The introduction of ChatGPT could have significant implications for Google’s search engine dominance. Since ChatGPT’s debut in November 2022, there has been growing concern among Alphabet’s investors that OpenAI may capture a portion of Google’s market share by offering consumers innovative methods to obtain information on the internet.

Alphabet three month share price as of 25th July 2024

Alphabet three month share price as of 25th July 2024

OpenAI’s ChatGPT was incorporated into Microsoft’s search engine Bing as Copilot and the companies have kept market dominance with this shrewd AI move. Google, on the other hand, has struggled to keep up in the AI race and may now be suffering the effects.

This announcement could have implications for Microsoft’s Copilot as well.

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Luxury brand Gucci-owner Kering share price hits a seven-year low after weak forecast

Luxury goods

Kering, the owner of Gucci, experienced a drop in its share value on Thursday 25th July 2024 following the announcement of a significant revenue decrease in the first half of the year, coupled with a subdued outlook for the latter half.

Kering’s shares fell by up to 9% as the markets opened, trading at levels not seen since August 2017.

Kering one year share price chart 24th July 2024 (am)

Kering one year share price chart 24th July 2024 (am)

The luxury group announced late Wednesday 24th July 2024 that its revenue dropped by 11% in the first half of 2024, in comparison to the same period the previous year. The company reportedly attributed the decline to a slowing market in most regions, with the exception of Japan.

Kering are not alone in suffering a drop in share value, as luxury brands including LVMH and Burberry also experienced weaker trade declines noted in recent reports.

A deceleration of luxury purchases in China is cited as one of the major reasons for the declines.

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U.S. stocks slip as Nasdaq tumbles for worst day since 2022 – Tesla and Alphabet fall

Stocks in the red

Stocks sold off Wednesday 24th July 2024, blighted by underwhelming reports from Tesla and Alphabet – leading the Nasdaq Composite and the S&P 500 to post their worst sessions since 2022.

The S&P 500 index dropped to closing at 5427, while the tech-heavy Nasdaq slid around 3.65% to end at 17342. The Dow Jones Industrial Average shed 504 points closing at 39853.

Nasdaq Comp one day chart 24th July 2024

Nasdaq Comp one day chart 24th July 2024

Shares of Google parent company Alphabet fell 5% for their biggest one-day drop since 31st January, when they dropped 7.5%. Although Alphabet reported good numbers, YouTube advertising revenue came in below the consensus estimate causing share to dip.

Alphabet one day chart 24th July 2024

Tesla shares declined around 12% – their worst day since 2020 – on weaker-than-expected results and a 7% year-on-year drop in auto revenue.

Tesla one day chart 24th July 2024

Nasdaq Comp one day chart 24th July 2024
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World’s largest luxury group LVMH slumps after Q2 revenue miss

Luxury

Shares in LVMH fell on Wednesday after the luxury group on Tuesday 23rd July 2024 released its earnings for the first half of 2024

Shares in the world’s largest luxury group LVMH pulled-back on Wednesday 24th July 2024 after its second-quarter sales came in below analysts expectations

Other luxury sector stocks, including Gucci-owner Kering which is set to report earnings on Wednesday 24th July, also retreated.

LVMH one year share price chart from July 2023

LVMH one year share price chart from July 2023
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Tesla shares fall after weaker-than-expected results

Tesla stock

Tesla’s shares dropped in U.S. pre-market trading following the electric car maker’s Q2 earnings report, which fell short of expectations.

The company saw a 7% year-on-year decrease in automotive revenue for the June 2024 quarter, down to $19.9 billion, and a decline in its ‘adjusted’ earnings margin.

Investors are divided on Tesla’s stock, with some concerned that the core car business is struggling, while others remain optimistic about Musk’s vision for autonomous driving.

Tesla continues to lead in U.S. electric vehicle sales, yet it’s facing declining market share as competitors emerge, partly due to its older range on offer and Elon Musk’s occasional controversial public statements.

Attention has shifted to other aspects of Tesla’s narrative, such as the anticipated introduction of a new mass-market vehicle to refresh its vehicle lineup. Musk reportedly re-affirmed that Tesla plans to launch an ‘affordable’ car in the upcoming year.

Tesla 3-year share price chart as at: 23rd July 2024

Tesla 3 year share price chart as at: 23rd July 2024

The earnings also highlighted his robotaxi vision. Musk shared his ‘expectation’ of a future where Tesla owners could allow their vehicles to operate in an Uber-like ride-hailing environment, with the cars driving autonomously.

And then we have the prospect for the greatly hyped arrival of Tesla’s humanoid robot due in 2025.

As we all know – Musk does much more than EVs.

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Elon Musk suggests Tesla will use humanoid robots in 2025

A humanoid robot image

Tesla boss Elon Musk says the electric car maker will start producing and using humanoid robots from next year.

In a social media update, Elon Musk stated that Tesla will initially employ the robots, with plans to commence production for sale by 2026.

He had earlier anticipated that the robot, named Optimus, would be operational in Tesla factories by this year’s end. Additionally, companies such as Honda Rototics and Boston Dynamics are also advancing their humanoid robot technologies.

“Tesla will have genuinely useful humanoid robots in low production for Tesla internal use next year and, hopefully, high production for other companies in 2026,” Mr Musk posted on his social media platform X.

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CrowdStrike shares tumble as fallout from global tech failure continues

System update fail

CrowdStrike’s shares fell a further 13% on Monday 22nd July 2024 while the cybersecurity software firm attempted to help clients from various sectors to recover from an outage that disrupted millions of Microsoft Windows devices on Friday 19th July 2024.

CrowdStrike 5-day share price chart

Early Friday, the company released a flawed update to its Falcon vulnerability-protection software, leading to crashes in PC’s, data centre servers, and networked display screens.

This caused flights to be grounded and medical appointments to be cancelled among numerous other ‘knock-on’ problems world-wide. Microsoft reported that the incident affected 8.5 million Windows devices, which is less than 1% of the global total.

IT staff swiftly acted to repair computers. At the same time, hackers attempted to exploit the turmoil by creating malicious websites that seemed to provide software updates.

See CrowdStrike website for more details about this issue.

Chief security officer Shawn Henry said the incident had been a “gut punch” for the firm, which had previously been one of the most trusted names in the industry.

“We let down the very people we committed to protect, and to say we’re devastated is a huge understatement,“ he reportedly said.

Mr Henry, a former FBI executive assistant director, reportedly said the weekend had been “the most challenging 48 hours” of his 12 years at the company. He promised it would use the incident as an opportunity to “emerge better and stronger than ever”.

“The confidence we built in drips over the years was lost in buckets within hours, and it was a gut punch,” he said in a LinkedIn post, on Monday 22nd July 2024.

“But this pales in comparison to the pain we’ve caused our customers and our partners.”

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Worst day for Nasdaq since 2022 as investors continue to rotate out of tech. S&P 500 slides – Dow gains

Nasdaq pull-back

On Wednesday 17th July 2024, the Nasdaq Composite and S&P 500 pulled-back as investors continued to shift from tech stocks to more interest rate-sensitive sectors.

The S&P 500 dropped 1.39%, closing at 5588. The tech-geared Nasdaq tumbled 2.77%, finishing at 17996, marking its worst session since December 2022 and ending below 18000 for the first time since 1st July 2024.

Conversely, the Dow Jones Industrial Average resisted the downward trend, gaining around 243 points, or to close at 41198. This advance led the index to close above the 41000 milestone.

Nasdaq Composite 17th July 2024 – one day chart

S&P 500 17th July 2024 – one day chart

Dow Jones 17th July 2024 – one day chart

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Market rotation helps Dow to a 743-point one day gain to close at a record high. Russell 2000 and crypto benefit

Broad market Bull run

The Dow Jones Industrial Average closed at a record high Tuesday 16th July 2024, rallying 743 points for its biggest one-day increase in more than a year, as the bull run appeared to broaden.

The small cap-focused Russell 2000 also rose for the fifth straight day, rising 3.5% fast closing in on a new record high as the money continues to rotate from tech stocks.

Russell 2000 index one year chart

The Dow Jones finished at 40,954, marking an increase of 1.85% for the day. It has experienced consistent daily gains since the previous week, culminating in an overall rise of over 4% over the past five trading days. The closing value on Tuesday 16th July 2024 represents the largest single-day gain since June 2023.

Dow one year chart as at: 16th July 2024

The market saw an uptick amidst a broader rally, driven by the news that June retail sales exceeded expectations, strong earnings reports to date, and the expectation of a benchmark interest rate reduction by the Federal Reserve in September.

Positive remarks from the Federal Reserve about potential interest rate cuts are bolstering market sentiment. Additionally, the buzz surrounding Trump’s re-election campaign and the recent assassination attempt on Trump at one of his election rallies seem to be influencing market movements as well.

However, Donald Trump reportedly said Taiwan should pay the U.S. for defence, in an interview with Bloomberg Businessweek published on Tuesday 16th July 2024. His comment had a negative impact on chip and tech stocks.

Crypto is enjoying the market rotation as more money is being ploughed back into cryptocurrencies. Bitcoin jumped from a low point in July 2024 of just below $56,000. Altcoins are also enjoying a mini-recovery.

Bitcoin benefitting from markets rotation – one year chart

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Burberry share price slides as company announces profit warning

Luxury goods

Burberry shares slide on Monday 15th July 2024 after the UK luxury fashion group announced a profit warning and a dividend halt and said its chief executive officer (CEO) was being replaced.

The maker of the iconic trench coat described a ‘disappointing’ fiscal first-quarter 2025 in a trading update.

Burberry reportedly said that if the recent trading slowdown continues, it expects to report an operating loss for the first half of this year and full-year operating profit below current consensus.

Shares in the 168-year-old British luxury giant were down 15% on Monday 15th July 2024 in early London trading.

Burberry share price falls to around 745 on Monday 15th July 2024 – one year share price chart

Burberry share price falls to around 745 on Monday 15th July 2024 – one year share price chart
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Dow rises more than 400 points to hit intra-day of 42000 then trims back before close

Stock rotation

Let the rotation begin

The Dow Jones Industrial Average surged on Friday 12th July 2024 as investors began to diversify beyond the technology sector.

The Dow closed at 40,000.90, after hitting a new all-time high of 40,257.

The Dow closed at 40,000.90, after hitting a new all-time high of 40,257.

The S&P 500 added 0.55% to 5,615, and the Nasdaq Composite went up 0.63% to 18,398. However, on Thursday 11th July 2024 the S&P 500 experienced its worst day since late April due to a major market rotation, with Nvidia dropping 5.6%.

Investors rotated from tech to industrial stocks in the Dow on Friday, hoping that slowing inflation might lead to a Federal Reserve rate cut in September.

The Dow gained 1.6% for the week, spurred by a report showing a 0.1% decline in the consumer price index for June. Recent reports suggest that the Federal Reserve might indeed consider a rate cut in September if inflation continues to slow.

While the AI growth has been dominant, other market catalysts, such as potential rate cuts, can also drive different sectors, including utilities.

Good earnings, improving economic news and the promise of a rate cut are combining to become the perfect storm for U.S. stocks.

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Big Tech and AI stocks push S&P 500 and Nasdaq to new all-time highs!

Record highs

On Wednesday, 10th July 2024, the S&P 500 reached a new record high, surpassing 5,600 for the first time, propelled by a significant surge in semiconductor stocks.

The S&P 500 index rose by 1.02%, ending the day at 5,633 and marking its seventh consecutive day of gains. The Nasdaq Composite increased, achieving a new all-time high closing at 18,647.

This year has seen the S&P 500 close at record highs some 37 times, with the Nasdaq following closely with 27 record high finishes.

S&P 500

S&P 500

Nasdaq Composite

Nasdaq Composite

The Dow Jones Industrial Average grew by 429 points, finishing at 39,721.

Note: figures rounded

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Japan’s Nikkei blast through 42000 to reach all-time high

Nikkei Lift Off!

Japan’s Nikkei 225 surpassed the 42,000 threshold for the first time ever during a widespread increase in Asia-Pacific markets on Thursday 11th July 2024.

This surge followed a rally in U.S. Big Tech stocks, fueled by optimism over a potential Federal Reserve rate cut moving ever closer.

The Nikkei climbed almost 1% to close at 42,224 driven by gains in technology shares, while the comprehensive Topix index advanced to finish at 2,929.

Nikkei index

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Japan, India and U.S. stock markets continue to hit new record highs!

Record highs

Asia-Pacific markets witnessed highs on Tuesday 8th July 2024, mirroring the gains on Wall Street where the S&P 500 and the Nasdaq Composite ended at record highs. India’s Nifty 50 index also hit an all-time high of 24401.2

Investors are anticipating the forthcoming U.S. consumer price index release to discern the Federal Reserve’s direction on interest rates.

Pundits

Pundits have moved this year from four 0.25% rate reductions to one and now maybe to two with the first in September 2024. The Fed trickles decisions out from its fickle stance and each time the markets move in anticipation like a lap dog eagerly awaiting a pat. It almost doesn’t matter what the Fed does – markets want to go up. However, a rate reduction and good economic and earnings news will drive the markets even higher, for a while.

Fickle Fed

Markets are currently anticipating earnings reports. The Federal Reserve, having considered the latest economic reports, has influenced the markets with a mix of indifferent decisions. AI and technology have significantly shifted the stock market landscape, with the potential for further growth – provided that earnings sustain the pace of AI investments and expenses.

Both the S&P 500 and the Nasdaq Composite achieved record highs again overnight, alongside Japan’s Nikkei and Topix reaching new highs too.

The Nikkei 225 climbed to settle at 41580.17 after hitting a new high of 41769.35. The Topix also gained, closing at 2895.55, having touched a peak of 2907.21.

Nikkei

Topix

S&P 500

Nasdaq Composite

Nifty 50

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Tesla shares recover 2024 losses with a 27% rally in one week

EV

Following a dismal beginning to 2024, Tesla’s stock has experienced a sharp rally, erasing its losses for 2023.

Tesla’s shares ended on Friday at $251.55, marking a 27% increase for the week.

The automaker announced on Tuesday 2nd July 2024 that its second-quarter vehicle deliveries surpassed forecasts.

Tesla 5-day chart – share price closed at 251.55

Tesla 5-day chart – share price closed at 251.55
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S&P 500 and Nasdaq hit record highs again as job data raises chance of a Fed interest rate cut

U.S. market record highs

Markets respond positively to job data as the S&P 500 and Nasdaq break record highs, again!

S&P 500 record high

S&P 500 record high Friday 5th July 2024

Nasdaq Composite record high

Nasdaq Composite record high

Nasdaq 100 record high

Nasdaq 100 record high

U.S. non-farm payrolls increase

The U.S. economy added slightly more jobs than expected in June 2024 though the unemployment rate increased, the U.S. Labor Department reported Friday.

Non-farm payrolls increased by 206,000 for the month, better than the 200,000 Dow Jones forecast though less than the downwardly revised gain of 218,000 in May, which was cut sharply from the initial estimate of 272,000.

The unemployment rate unexpectedly rose to 4.1%, matching the peak since October 2021, presenting a conundrum for Federal Reserve officials as they consider their next steps in monetary policy. Projections had indicated that the unemployment rate would remain stable at 4%.

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Japan’s Nikkei passes 41000 – then trims gain slightly

Nikkei hits new record

On 5th July 2024, Japan’s benchmark Nikkei 225 index climbed above 41,000 before retreating from its record close of 40,913.65.

The Nikkei 225 serves as a crucial barometer for the Japanese stock market, representing the performance of prominent companies on the Tokyo Stock Exchange. It continues to stand at historically elevated levels.

Nikkei one year chart closes at 40912 after passing 41000 for the first time

Nikkei one year chart closes at 40912 after passing 41000 for the first time
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An important rare Earth metal

Tungsten rare Earth metal

Tungsten is a critically important rare earth metal, renowned for its unique and valuable properties.

Tungsten has the highest melting point among all metals, which makes it exceptionally suitable for high-temperature applications.

Key aspects of its importance

Industrial and technological applications

Tungsten is used in many industries where hardness, high density, high wear resistance, and high-temperature resistance are required. This includes mining, construction, energy generation, electronics, aerospace, and defence sectors. It is used in weapons, autos, electric car batteries, semiconductors and industrial machinery.

Fact: approximately 2Kg of tungsten goes into every electric vehicle.

Alloys

Metals are frequently alloyed with Tungsten to enhance their strength without substantially adding to their weight. This property is vital for uses like arc-welding electrodes and heating elements in high-temperature furnaces.

Significance

Tungsten is acknowledged as a critical metal because of its economic significance and the scarcity of its sources. It is reported that China produces the majority of the world’s tungsten, controlling approximately 80% of the supply of this rare earth metal.

Durability and flexibility

Tungsten’s durability, flexibility, and resistance to corrosion contribute to its popularity across various industries and applications. It ranks among the hardest and most resilient materials found in nature.

These characteristics render tungsten not just crucial but also indispensable for numerous high-tech applications. The rarity of tungsten and the intricate nature of its extraction and refinement processes enhance its value even further.

World suppliers of tungsten

According to Statista.com the global tungsten market was valued at over $5 billion USD in 2022. It’s projected to grow significantly, with estimates suggesting it could reach over $9.5 billion USD by 2030