The tungsten market in 2026 looks like nothing the industry has seen in a generation. Prices are at historic highs. Supply from China is constrained. And every day, Tungco’s phones are ringing with buyers and sellers who’ve never cared about tungsten carbide before — suddenly very interested.
Nobody at Tungco has a better front-row seat to that shift than Chris Capps.
In Episode 202 of Cliff’s Notes, Tungco CEO Cliff Nance sits down with Chris — a 16-plus year Tungco veteran and key member of the procurement team — to break down what’s actually happening in the tungsten market, how trust becomes a competitive advantage when prices are volatile, and what a career spent on the sorting bits teaches you about buying carbide at the highest level.
From the Sorting Tables to Strategic Procurement
Chris Capps didn’t walk into Tungco with a procurement title. He started on the floor — literally sorting through carbide and scrap material — before transitioning into operations at sister company Cuda Grit, where he spent nearly a decade learning every step of the disassembly, processing, and logistics chain.
That floor-level knowledge is exactly what makes him effective as a buyer today. When Chris evaluates an incoming load of tungsten carbide, asphalt milling teeth, or mining-grade material, he already knows every step that material will touch after it crosses the dock. That institutional knowledge reduces friction, speeds decisions, and flags potential problems before they become costly ones.
In Episode 202, Cliff and Chris cover what that career arc looks like in practice — and why companies like Tungco tend to build their best procurement professionals from the inside out.
The Tungsten Market in 2026: Unprecedented Doesn’t Cover It
The word “unprecedented” gets overused. In this case, it’s accurate.
Tungsten carbide pricing has climbed to levels that have no historical comparison — not in the 2010s spike, not in any of the previous market cycles Chris or Cliff can point to. The combination of constrained Chinese exports, rising industrial demand, and tightening global supply has created a market that is simultaneously full of opportunity and loaded with risk.
Chris is direct about both sides of that equation:
On the opportunity side — for a buyer with the backing and the relationships, this market rewards strategic moves. Tungco has been able to step in, support its supplier network, and do meaningful volume when others are pulling back.
On the risk side — when (not if) the market corrects, the correction will be sharp. Companies that over-leveraged into high prices, or that got sloppy about counterparty risk, will feel it hardest. Chris talks candidly about the conversations he’s having daily with suppliers and recycling yards to help them navigate that exposure.
Trust as a Commodity
One of the central themes of Episode 202 is something that doesn’t show up on a price sheet: trust.
In a market like this one — where material is scarce, prices are moving fast, and bad actors are looking for angles — the question isn’t just who’s offering the best number. It’s who’s going to honor that number when conditions shift. Who’s not going to shave weight on your settlement. Who’s not going to pay 50% up front and go quiet.
Chris puts it plainly: Tungco quotes a price, Tungco pays that price. That reputation, built over 16-plus years of relationships across the carbide and tungsten recycling space, is what suppliers talk about when they refer Tungco to someone new.
For anyone operating in the tungsten or carbide scrap space right now — as a seller, a recycler, or a downstream buyer — Episode 202 is worth your time.
Why This Matters for the Tungsten and Carbide Recycling Industry
A few takeaways for operators in the space:
Asphalt milling is a major carbide scrap stream. Chris handles roughly 90–95% of Tungco’s asphalt milling tooth procurement — a category that generates consistent, high-grade tungsten carbide scrap from road construction and infrastructure contractors. If you’re in that business, you want a buyer who understands your material.
Mining-grade carbide is a growing focus. As Tungco expands procurement beyond its core categories, mining-grade tooling and wear parts represent a meaningful opportunity for sellers with access to that material.
The trust premium is real right now. In a volatile market, a reliable buyer who honors commitments is worth more than a slightly higher spot price. This episode explains why.
About Tungco
Tungco is one of the largest tungsten and carbide recyclers in North America, recovering high-value materials from industrial wear parts, cutting tools, milling teeth, and end-of-life equipment. We work directly with contractors, machine shops, mining operations, and scrap dealers to keep critical materials in productive circulation — reducing reliance on virgin mining and supporting a more resilient industrial supply chain.
Learn more about how we buy carbide and tungsten scrap at tungco.com.
About Cliff’s Notes
Cliff’s Notes is Tungco’s podcast hosted by CEO Cliff Nance, featuring conversations with leaders, builders, and operators across the industrial economy — from welders and machinists to buyers, recyclers, and the people who keep tungsten carbide moving through the supply chain. New episodes drop regularly across YouTube, Spotify, Apple Podcasts, and Spreaker.
