Jiaxin International Resources (03858.HK) saw its stock price plummet 5.42% during intraday trading on Wednesday, extending losses from the prior session.

The sharp decline is attributed to a recent phased pullback in domestic tungsten concentrate spot prices. Market holders have demonstrated a stronger willingness to take profits and offload inventory, while an increase in recycled tungsten resources has contributed to short-term supply. These factors have led to greater liquidity and a slightly looser supply atmosphere in the spot market, applying sustained pressure on related stocks.