Understanding the Market | JIAXIN INTL RES rises over 9% as tungsten prices continue to rise; the company has abundant resources at the Bakuta tungsten mine
JIAXIN INTL RES rose over 9%, as of the time of writing, up 9.26%, reported at HKD 32.8, with a trading volume of HKD 33.5721 million. According to news from Zhongtung Online, tungsten prices are climbing steadily, with the prices of major tungsten products basically doubling compared to the average price in 2024. Data shows that on September 3rd, the price of 65% black tungsten concentrate was reported at RMB 278,000 per standard ton, an increase of 94.4% compared to the beginning of the year. It is reported that the company is rooted in Kazakhstan, focusing on tungsten ore resource development. As of the first half of this year, the Bakuta tungsten mine has a resource amount of 1.075 million tons of tungsten ore, with a grade of 0.211%, containing 227,000 tons of WO₃, and reserves of 684,000 tons of tungsten ore, with a grade of 0.206%, containing 140,800 tons of WO₃. China Merchants Securities pointed out that the company's core asset is the Bakuta tungsten mine, which is currently in production, and there are still expectations for increased production in the future. Benefiting from the rising tungsten prices, the company's profits are expected to grow rapidly
According to Zhitong Finance APP, JIAXIN INTL RES (03858) rose over 9%, as of the time of writing, up 9.26% to HKD 32.8, with a transaction volume of HKD 33.5721 million.
On the news front, according to Zhongtung Online, tungsten prices are climbing steadily, with the prices of major tungsten products basically doubling compared to the average price in 2024. Data shows that on September 3, the price of 65% black tungsten concentrate was reported at RMB 278,000 per standard ton, an increase of 94.4% compared to the beginning of the year. It is reported that the company is rooted in Kazakhstan, focusing on tungsten ore resource development. As of the first half of this year, the Bakuta tungsten mine has a resource amount of 107.5 million tons of tungsten ore, with a grade of 0.211%, containing 227,000 tons of WO₃, and reserves of 68.4 million tons of tungsten ore, with a grade of 0.206%, containing 140,800 tons of WO₃. China Merchants Securities pointed out that the company's core asset is the Bakuta tungsten mine, which is currently in production, and there are still expectations for increased production in the future. Benefiting from the rising tungsten prices, the company's profits are expected to grow rapidly
