HK Stock Movement | JIAXIN INTL RES (03858) Rises Over 6% in Afternoon Session as Tungsten Prices Double YTD; Core Asset is Bakuta Tungsten Mine

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Nov 05

JIAXIN INTL RES (03858) surged over 6% in afternoon trading, reaching HK$38.22 with a turnover of HK$52.46 million. Tungsten product prices have accelerated their rally since October. Data from China Tungsten Online shows black tungsten concentrate prices rose to RMB 288,000/ton (+RMB 3,000), APT to RMB 425,000/ton (+RMB 7,000), and tungsten powder to RMB 635/gram (+RMB 5) as of October 28. All tungsten products have doubled in price since the beginning of the year.

Huaxi Securities notes that tungsten prices have maintained record highs since early 2025. While new overseas supply is expected, its market impact remains limited due to delayed production ramp-up. The current tight supply situation continues to support tungsten prices, with future trends dependent on annual tungsten concentrate quota allocations.

JIAXIN INTL RES operates as a Kazakhstan-based tungsten miner, focusing on developing its flagship Bakuta Tungsten Mine project.

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Tungsten product prices have accelerated their rally since October. Data from China Tungsten Online shows black tungsten concentrate prices rose to RMB 288,000/ton (+RMB 3,000), APT to RMB 425,000/ton (+RMB 7,000), and tungsten powder to RMB 635/gram (+RMB 5) as of October 28. All tungsten products have doubled in price since the beginning of the year.</p>\n<p>Huaxi Securities notes that tungsten prices have maintained record highs since early 2025. While new overseas supply is expected, its market impact remains limited due to delayed production ramp-up. 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