HK Stock Market Move | JIAXIN INTL RES (03858) rose more than 8%. The overall price of tungsten is in a high-level fluctuation. The company's core asset is the Bakuuta tungsten mine.

JIAXIN INTL RES (03858) rose more than 8%, as of the press release, it is up 7.87%, at 33.16 Hong Kong dollars, with a turnover of 24.5878 million Hong Kong dollars. On the news front, according to Zhongtung Online, on November 25th, as the market's supply and demand sides intensify their games, the overall tungsten price is running at high levels. The price of 65% black tungsten concentrate is 334,000 yuan/ton, up 133.6% from the beginning of the year; the price of 65% white tungsten concentrate is 333,000 yuan/ton, up 134.5% from the beginning of the year. Guoyuan believes that from the supply side, global reserves have gradually increased in recent years, China has implemented total control of mining volume, and in the future, China's tungsten supply will continue to tighten; from the demand side, downstream demand is diversified, and is expected to continue to lead the growth of tungsten demand. The improvement in the supply and demand pattern of the tungsten industry in the future may support the high-level operation of tungsten prices. CMSC has previously stated that the company's core asset is the Bakuta tungsten mine, which is currently in production and still has production growth expectations in the future. Benefiting from the rise in tungsten prices, the company's profits are expected to grow rapidly.