Abstract: As a strategic resource, tungsten is a key material for economy and defense in many countries. The reserve, supply, demand, and price changes of global tungsten resources were analyzed. Nearly 80% of global tungsten resources come from China, Russia, Canada and Vietnam. The global tungsten supply are still dominated by China, although many projects were constructed and tungsten waste recycle become more and more important. Meanwhile, Chinese tungsten demand accounts for about two-thirds of the global demand, but the growth is slowing. The demand for tungsten in other major economies is also stable or shrinking slightly. In the short term, the price of tungsten concentrate will increase, but the extent is limited.