Movement Alert|Jiaxin International Resources Rises 7.94% in Regular Trading, Tungsten Price Stabilization Signals and PMF Cooperation MOU Boost Sentiment

Market Focus06-12

On June 12, Jiaxin International Resources rose 7.94% in regular trading, trading at HK$90.4/share, with turnover of HK$118 million. The stock rebounded sharply following multiple positive catalysts including tungsten price stabilization signals and a strategic cooperation agreement.

On the news front, Xianlu Tungsten released its early-June pricing on June 10, quoting 55% black tungsten concentrate at RMB 518,000/tonne and ammonium paratungstate at RMB 780,000/tonne, representing notable increases from late-May levels. The long-term contract pricing is viewed as a market stabilization signal. Additionally, the company recently signed a non-binding MOU with PMF to explore mineral resource development opportunities in Kazakhstan, targeting large porphyry copper-gold deposits, polymetallic mines, and tungsten-molybdenum projects, broadening its resource portfolio beyond the flagship Bakuta tungsten mine.

Within the Diversified Metals and Mining sector, the overall sector showed strength. Among peers, CMOC rose 6.15%, MMG rose 4.9%, Lygend Resources rose 4.76%, Wanguo Gold Group rose 1.96%, and Ximei Resources rose 0.5%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment