Stock Track | Jiaxin International Resources Plummets 5.15% Intraday on Tungsten Price Retreat, Sector Pressure and Profit-Taking

Stock Track05-28

Jiaxin International Resources (03858) saw its stock plummet 5.15% during intraday trading on Thursday, reflecting significant selling pressure.

The decline is attributed to a sustained retreat in tungsten concentrate and APT prices, driven by the release of prior inventories, increased supply from scrap tungsten, import supplements, and disrupted exports. This price weakness has suppressed profit expectations for tungsten mining companies like Jiaxin.

Furthermore, the broader Diversified Metals and Mining sector faced downward pressure during the session. The stock, which had previously rallied on news of a memorandum of understanding with Pangu Mining Fund to explore mineral resource opportunities in Kazakhstan, also experienced short-term profit-taking from investors following those consecutive gains.

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