JIAXIN INTL RES Gains Nearly 6% in Afternoon Trading as CME Plans to Launch Tungsten Futures Contracts; Global Tungsten Supply-Demand to Remain Tight Over Medium to Long Term

Stock News10-21 13:42

JIAXIN INTL RES (03858) rose nearly 6% in afternoon trading. As of press time, the stock was up 4.41% at HK$40.26, with a turnover of HK$59.9215 million.

On the news front, CME Group announced that it will launch a tungsten futures contract to meet growing market demand for price risk management tools. It is reported that CME plans to launch the contract in the first quarter of 2027. The contract will use cash settlement, meaning buyers cannot obtain physical tungsten through contract delivery, but can use the contract to hedge against risks from tungsten price fluctuations.

China Merchants Securities pointed out that with hard supply constraints for tungsten compounded by a strategic premium, prices are expected to stop falling and rebound in the fourth quarter.

CICC noted that China's total tungsten product exports remain tight, and the domestic export structure is shifting toward higher value-added products. The tight global tungsten supply-demand situation is expected to persist over the medium to long term, with the global tungsten supply-demand gap projected to be 22,000, 24,000, 24,000, and 25,000 metric tons of metal for 2026-2029 respectively, accounting for 13%-14% of total global tungsten consumption.

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