JIAXIN INTL RES (03858) surged nearly 6% again, reaching HK$41.38 at press time, with a trading volume of HK$26.84 million. The upward momentum in tungsten prices has intensified. According to industry data, the price of tungsten concentrate exceeded RMB 400,000 per ton, while ammonium paratungstate (APT) surpassed RMB 600,000 per ton. Tungsten powder also approached RMB 1,000 per kilogram.
Specifically, black tungsten concentrate (≥65%) rose to RMB 415,000 per ton, and white tungsten concentrate (≥65%) climbed to RMB 414,000 per ton. Tungsten powder was quoted at RMB 990 per kilogram, and APT at RMB 610,000 per ton, with multiple categories showing daily gains. Notably, tungsten concentrate prices hit a new historical high.
Analysts noted that black tungsten concentrate prices surged 9.76% to RMB 371,000 per ton over the past two weeks, while APT prices jumped 12.12% to RMB 555,000 per ton. On the supply side, reduced mining quotas and slower production have tightened market availability. Demand remains stable domestically, with steady procurement for essential uses, particularly in PCB cutting tools. Major tungsten producers recently raised long-term contract prices for early December, further fueling bullish sentiment.
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