Shares of JiaXin International Resources have risen more than 6%. At the time of writing, the stock is up 6.42%, trading at HK$93.65 with a turnover of HK$234 million.

Market information indicates that tungsten prices have generally shown a trend of bottoming out and rebounding in recent trading sessions. According to a tungsten market report, the price for 65% black tungsten concentrate is 450,000 yuan per metric ton, while the price for ammonium paratungstate is 730,000 yuan per ton.

Analysis points out that since May, domestic APT producers have undertaken maintenance, reduced output, and implemented measures to cut production and support prices, which have effectively digested previous inventory. As raw material prices gradually stabilize, smelters' willingness to hold firm on prices has strengthened. Downstream rigid demand procurement is following up, leading to a slight recovery in market trading activity. Coupled with support from major producers finalizing long-term contract prices, the decline in APT prices has halted, and the market is overall gradually entering a bottoming phase.

The view is that, in the short term, factors suppressing tungsten prices are gradually easing. Concurrently, emerging demand and the strategic attributes of tungsten are continuously strengthening. Firstly, the easing of conflicts in the Middle East has driven some relief from stagflation fears, and domestic holders have begun to show reluctance to sell. Secondly, demand from emerging industries like AI is accelerating. The market anticipates that architectures like Vera Rubin could drive accelerated growth in demand for AI PCB micro-drills, while high prosperity in the storage industry is contributing to tight supply and demand for tungsten hexafluoride.

From a long-term perspective, the global tungsten supply-demand tightness remains unchanged, and the investment value of leading global tungsten companies continues to be prominent.