HK Stock Market Move | JIAXIN INTL RES (03858) rose by more than 7%. The tungsten market is still hot, and institutions are optimistic about the continuous rise in prices.

JIAXIN INTL RES(03858) rose more than 7%, at the time of writing, it rose by 7.58% to HKD 123.5, with a turnover of HKD 2.04 billion. On the news front, according to data from Chinatungsten Online, since the beginning of the year 2026, in just two months, the prices of major tungsten raw materials have increased by about 85%, and the prices of tungsten scrap have risen by 120%. Chinatungsten Online pointed out that the market's optimistic attitude mainly stems from long-term constraints on the supply side of policies and emotions, as well as the strengthening of tungsten's status as a strategic key mineral resource and the increase in capital allocation preferences, together supporting the strong trend of tungsten prices. CICC previously pointed out that against the backdrop of ongoing geopolitical conflicts overseas, strategic stockpiling demand is expected to open up. It is expected that the global consumption of primary tungsten from 2023 to 2028 will have a CAGR of +2.7%. The bank predicts that the global tungsten supply-demand relationship may be in short supply in the long term, coupled with global tungsten inventories reaching low levels, the center of tungsten prices is expected to continue to rise. FIRST SHANGHAI previously believed that the commercialization of the company's scarce tungsten mineral resources is underway, and a valuation restructuring is imminent.