HK Stock Market Move | JIAXIN INTL RES(03858) rises by over 4% again, with the central price of tungsten in China expected to steadily rise.

JIAXIN INTL RES (03858) rose by over 4%, as of the time of writing, it has increased by 3.84%, reaching HKD 79.85 with a turnover of HKD 195 million. On the news front, on January 20th, the Zhongwu online public account released a message stating that the tungsten price remains firm, with the market continually climbing. In the tungsten concentrate market, miners are holding onto their stocks and reluctant to sell, leading to a tight overall supply of available resources, supporting high tungsten product prices. The price of 65% black tungsten concentrate is reported at 520,000 RMB/ton, up 13.0% from the beginning of the year; the price of 65% white tungsten concentrate is reported at 519,000 RMB/ton, up 13.1% from the beginning of the year. FIRST SHANGHAI pointed out that the company is a rare pure tungsten mine target in the market, and the current stock price has a very high safety margin and attractiveness. Zhongjin research report states that the company focuses on operating the Bakuta tungsten mine in Kazakhstan, and they are optimistic about the company's future. Reasons including the global tungsten supply and demand situation may remain tight, with the tungsten price expected to steadily rise; the four core advantages are expected to make them a highly competitive mining leader in the Central Asian region.