One of the best known uses for tungsten (chemical symbol W from its German name, wolfram) is for light bulb filaments. However, tungsten is also very useful as a "refractory metal," meaning a structural metal that maintains its structural properties at very high temperatures, due to its extremely high melting point of 6192 °F. Tungsten can be used for crucibles, for example, in which other metals are melted for casting. The compound tungsten carbide is also highly useful, being a very hard material from which machine tools can be made.
I don't know how much a pound of tungsten would cost, and it would depend on the form in which you purchased it. However, Mi-Tech Metals, Inc., is a leading supplier of tungsten (see third reference), and they might be able to provide you with that information.