HK Stock Market Move | Jiaxin International Resources (03858) surges over 6% to record high, with tungsten powder soaring over 220% this year. The company is expected to significantly benefit from the long-term increase in tungsten mine prices.

JIAXIN INTL RES(03858) rose more than 6% in the morning session, reaching a high of 45.8 Hong Kong dollars, setting a new record high. As of the time of writing, it has risen by 6.17% to 45.8 Hong Kong dollars, with a turnover of 14.2566 million Hong Kong dollars. On the news front, according to data from Tungsten Online, as of December 18, the prices of tungsten concentrate, ammonium paratungstate, and tungsten powder continue to rise. The price of tungsten powder (99.7%) has reached 1.01 million yuan/ton, an increase of 219.6% since the beginning of the year; while the price of domestic tungsten powder (99.7%) collected by Wind has risen to 1.045 million yuan/ton, with a very significant increase compared to November. Industry insiders point out that the recent rapid rise in tungsten prices may be related to the tightening supply and price hikes as we approach the end of the year. In the article "Tungsten prices skyrocketed by 220% this year to hit a historical high, with the most elastic target being Jiaxin International (03858) potentially having a 10-fold space?" it is pointed out that Jiaxin International is a tungsten mining company rooted in Kazakhstan, focusing on the development of the Bakuta tungsten mine project. With top global resource endowment, synergy from central enterprises, rapidly releasing production capacity, and highlighting future cost advantages, Jiaxin International has become a "hot cake" in the capital market. From a long-term perspective, the current stock price of Jiaxin International is only a reflection of short-term expectations for tungsten prices, and does not fully reflect its long-term intrinsic value as the most elastic investment target in the rising period of tungsten prices. Production, prices, and costs are the core variables that outline the long-term value of Jiaxin International, and with a simple calculation, one can anchor the long-term true value of Jiaxin International.