HK Stock Market Move | JIAXIN INTL RES (03858) rose nearly 6% in the afternoon; CME plans to launch tungsten futures contracts; global tungsten supply and demand expected to remain tight in the medium to long term.

JIAXIN INTL RES (03858) rose nearly 6% in the afternoon. As of press time, it was up 4.41% at HK$40.26, with a turnover of HK$59.9215 million. On the news front, CME Group announced it will launch tungsten futures contracts to meet growing market demand for price risk management tools. It is reported that CME plans to launch the contract in the first quarter of 2027. The contract will be cash-settled, meaning buyers cannot obtain physical tungsten through contract delivery, but can use the contract to hedge against risks from tungsten price fluctuations. CMSC pointed out that with rigid supply constraints on tungsten combined with a strategic premium, prices are expected to stop falling and rebound in the fourth quarter. CICC pointed out that China's total tungsten product exports remain tight, and the domestic export mix is shifting toward higher value-added products. The medium- to long-term global tungsten supply and demand tightness remains unchanged, with the global tungsten supply-demand gap forecast at 22,000, 24,000, 24,000, and 25,000 metric tons of metal for 2026-2029 respectively, accounting for 13%-14% of total global tungsten consumption.