HK Stock Market Move | JIAXIN INTL RES(03858) rose more than 6% in the afternoon, tungsten product prices doubled within the year, and the company's core asset is the Bokuta tungsten mine.

JIAXIN INTL RES (03858) rose over 6% in the afternoon, with a 6.52% increase as of the time of writing, reaching HK$38.22, with a turnover of HK$52.4565 million. On the news front, tungsten products have risen rapidly again since October. According to data from China Tungsten Online, as of October 28, the price of black tungsten concentrate was 288,000 yuan/ton, an increase of 3,000 yuan/ton from the previous trading day, APT was priced at 425,000 yuan/ton, an increase of 7,000 yuan/ton from the previous trading day, and tungsten powder was priced at 635 yuan/gram, an increase of 5 yuan/gram. Compared with the beginning of the year, the prices of tungsten products have doubled across the board. Huaxi believes that since the beginning of 2025, the tungsten price has remained at a high level and has repeatedly hit historical highs. Looking ahead, although there is new supply overseas, it will take time for production to ramp up, and it has not yet had an impact on the market. The current tight situation on the supply side of tungsten has not changed, providing support for the price of tungsten, and attention should be paid to the issuance of the annual tungsten concentrate quotas. It is understood that JIAXIN INTL RES is a tungsten mining company rooted in Kazakhstan, focusing on the development of the group's Bakuta tungsten mine project.