HK Stock Movement | JIAXIN INTL RES (03858) Rises Over 5% Intraday as Tungsten Market Maintains Steady Trend, Highlighting Strategic Metal Status

Stock News11-20

JIAXIN INTL RES (03858) surged over 5% intraday, and as of press time, it was up 3.4% at HKD 32.22, with a turnover of HKD 30.83 million.

Market sources indicate that the tungsten market continues its steady performance. On November 20, the price of 65% black tungsten concentrate stood at RMB 327,000 per metric ton, up 128.7% since the beginning of the year. Similarly, 65% white tungsten concentrate was priced at RMB 326,000 per metric ton, marking a 129.6% increase year-to-date.

Analysts note that tungsten, as a strategically advantageous metal in China, faces supply constraints due to resource depletion and environmental regulations. Additionally, the government's strict control over mining quotas limits production expansion. Rising demand from emerging industries further tightens the supply-demand balance, supporting upward price momentum. Companies like JIAXIN INTL RES are expected to benefit from these market dynamics.

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