Jiaxin International Resources' stock soared 7.13% during intraday trading on Friday, reflecting strong investor interest in the tungsten mining company.

The surge appears driven by escalating Middle East conflicts, which have increased consumption of high-end ammunition among the US and its allies, positioning tungsten as a core strategic resource for global defense and technology supply chains. A US think tank warned that current high-intensity military consumption could extend recovery cycles for critical ammunition inventories to several years, suggesting sustained long-term demand for tungsten, while the US accelerates efforts to rebuild domestic and allied supply chains.

Additionally, market expectations are building around the company's expansion strategy in Central Asia, following its signing of a non-binding MOU with Pangu Mining Limited Partnership Fund to jointly explore mineral resource development opportunities, including tungsten-molybdenum mines, in Kazakhstan's Karaganda region. Separately, Tianfeng Securities noted that downstream restocking signals are emerging and tungsten prices are expected to stabilize in the near term.