JIAXIN INTL RES (03858) rose over 6% in early trading, hitting a record high of HK$45.8. At press time, the stock was up 6.17% at HK$45.8, with a turnover of HK$14.26 million.
Market data shows that as of December 18, prices for tungsten concentrate, ammonium paratungstate, and tungsten powder continued to climb. Tungsten powder (≥99.7%) has surged to RMB 1.01 million per ton, up 219.6% year-to-date. Wind data indicates domestic tungsten powder (≥99.7%) prices have reached RMB 1.045 million per ton, with the upward trend accelerating significantly since November.
Industry experts attribute the recent price surge to tightened supply ahead of year-end and upward adjustments in long-term contract prices.
JIAXIN INTL RES is a Kazakhstan-based tungsten mining company focused on developing the Bakuta Tungsten Project. With its world-class resource base, synergies with state-owned enterprises, rapid capacity expansion, and future cost advantages, the company has become a market favorite.
From a long-term perspective, JIAXIN INTL RES's current stock price only reflects short-term tungsten price expectations, failing to fully capture its intrinsic value as a highly elastic investment target in a prolonged tungsten price upcycle. Key drivers of its long-term value—production volume, pricing, and costs—suggest substantial upside potential upon simple projections.
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