Taiwanese tungsten exporters will face squeezed margins in 2027.

On 9 November Vietnam's Masan High-Tech Materials signed a non-binding MOU for Japan's Sojitz to buy 5% of the company and distribute its tungsten in Japan, with definitive deals due by end-2026. The announcement came as Japan and Vietnam agreed to deepen cooperation on critical minerals. Some of Sojitz’s Japanese tungsten importers have already approved Masan’s products, giving them another source when contracts come up for renewal. Taiwan’s Jing Yuan and Lianyou Metal faces direct competition in ammonium paratungstate and sodium tungstate, crucial tungsten intermediate inputs for manufactured goods. Masan’s existing supply commitments limit how much Sojitz can sell, but buyers only need enough Vietnamese material to shift part of a repeat order. That puts both Taiwanese suppliers in a tighter spot at renewal.