HK Stock Market Move | JIAXIN INTL RES (03858) rose over 6% in late trading; Rotterdam tungsten APT futures are expected to launch trading in early next year.

JIAXIN INTL RES (03858) rose over 6% in late trading, up 5.63% as of press time to HK$37.52, with turnover of HK$52.8495 million. On the news front, Fastmarkets and CME Group recently reached a cooperation agreement to launch Rotterdam tungsten APT futures, with the contracts to be listed on COMEX and trading expected to commence in early Q1 2027, subject to regulatory approval before launch. Global annual tungsten production is approximately 85,000 to 95,000 tonnes. Based on current spot prices, the global tungsten market exceeds US$20 billion. Sinolink noted that the U.S. Commerce Department will implement a one-year tungsten scrap export ban starting August 27, 2026, escalating overseas strategic stockpiling, and Japanese tungsten raw materials may become further scarce, benefiting the domestic tungsten materials industry chain and tungsten prices. Expectations of tightening industry supply remain, and combined with the backdrop of increased overseas strategic stockpiling, tungsten's priority may be relatively high; the tungsten supply-demand fundamentals are expected to see a strong resonance.