Thirty years in the scrap business, eleven of them with Tungco. In Episode 405 of Cliff’s Notes, Tungco CEO Cliff Nance sits down with Markus Ewecker, who leads Tungco GmbH and the HSS Recycling division, for a straight-talking look at tungsten’s wildest run in years and what it takes to grow a business the right way.
■ Watch Episode 405 on YouTube: [INSERT YOUTUBE LINK]
From a Breakfast-Table Job Ad to 30 Years in Scrap
Markus finished a year of military service in 1996 and was ready to go to university when his mom spotted a trainee opening at ELG. He applied with no particular plan, got the job, and started on September 1, 1996. After ELG came a stint in Duisburg and seven years at Scholz, then Tungco, where he has spent 11 years.
Tungsten’s Hurricane and the Substitution Question
Markus describes the past 18 months, and especially the first five months of this year, as a hurricane. His hope is for at least some normality so the yard team can catch its breath.
Cliff raises the topic on everyone’s mind: when tungsten gets this expensive, customers look for options that are “good enough”. A manufacturer might require tungsten carbide for one hole and find that high speed steel does the job for another. Markus agrees it can happen, but only to a certain degree. He doesn’t expect 20% or 30% of carbide volume to shift to HSS, though sometimes an HSS drill can do the job.
Inside High Speed Steel Recycling
HSS Recycling focuses on all grades of high speed steel, including M2 and M35, and on the alloys inside them: chromium, vanadium, molybdenum, tungsten, and cobalt. Markus breaks down a typical M2 at roughly 4% chromium, 4.8% molybdenum, 6% tungsten, and 1.8% vanadium, with iron making up the balance. HSS is, in his words, their bread and butter, and the strategy is to grow it slowly and chase only profitable business.
That patience runs through everything Markus does: you don’t start with the roof, you start with the foundation, then the walls. Sometimes you miss an opportunity, but you avoid the trap of promising more than you can deliver, which Cliff calls oversell and under-deliver.
Why This Matters for Tungsten Recyclers
- High speed steel is a real tungsten scrap stream. An M2 carries about 6% tungsten, so grade knowledge directly affects recovery value.
- Substitution is a two-way street. Some demand may drift from carbide to HSS, which makes recyclers who handle both streams more resilient.
- Disciplined, profitable growth matters most when prices swing as hard as they have in tungsten. 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, high speed steel, and end-of-life equipment. Learn more 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. New episodes drop regularly across YouTube, Spotify, Apple Podcasts, and Spreaker.
■ Watch Episode 405 with Markus Ewecker:
