Shares of JiaXin International Resources (HKEX: 03858) rose more than 4% during the trading session. At the time of writing, the stock was up 2.98% to HK$84.75, with a turnover of HK$238 million.

Catalyst for the Move

On June 10th, Xianglu Tungsten released its price list for the first half of June 2026. The price for 55% black tungsten concentrate was quoted at 518,000 yuan per metric ton, while 55% white tungsten concentrate was priced at 517,000 yuan per metric ton. Ammonium paratungstate (international zero-grade) was set at 780,000 yuan per ton. These figures represent a significant increase compared to the company's price list for the second half of May, released on May 25th.

Company's Revenue Stream

Analysts have previously noted that all of JiaXin International Resources's revenue is derived from white tungsten concentrate produced at its Bakuta mine. Following the commencement of commercial production and sales in April 2025, the company produced 5,008 tons of white tungsten concentrate for the full year, selling 4,879 tons. With ongoing capacity ramp-up and operational optimization, the company's cost structure is expected to improve further.