HK Stock Market Move | JIAXIN INTL RES (03858) rose more than 5% in intraday trading, the tungsten market continued its stable trend, and the strategic metal status became more prominent.

JIAXIN INTL RES (03858) rose more than 5% during trading, and as of press time, it has risen by 3.4% to HK $32.22, with a turnover of 30.8268 million Hong Kong dollars. On the news side, according to Chinatungsten Online, on November 20, the tungsten market continued to show a stable trend. The price of 65% black tungsten concentrate was reported at 327,000 yuan per metric ton, up 128.7% from the beginning of the year. The price of 65% white tungsten concentrate was reported at 326,000 yuan per metric ton, up 129.6% from the beginning of the year. Open source securities pointed out that as a strategic metal in China, the supply of tungsten ore is restricted by factors such as resource depletion and environmental protection. In addition, the national total control of tungsten mining has limited the release of tungsten ore production. The emerging growth sectors are driving tungsten demand, keeping supply and demand tight, and the tungsten price is expected to continue to rise. Beneficiaries include JIAXIN INTL RES and others.