HK Stock Market Move | JIAXIN INTL RES(03858) rose more than 7% in trading "war metal" tungsten product prices started strong in March

JIAXIN INTL RES (03858) rose by more than 7% in intraday trading, increasing by 5.81% to HK$127.5 as of the time of writing, with a turnover of HK$1.59 billion. On the news front, tensions between the US and Iran have escalated, leading to a strong start in March for "war metal" tungsten products. Data from Chinatungsten Online shows that on March 2, tungsten concentrate, ammonium paratungstate, tungsten powder, and other main products were all raised in price, with the highest upstream black tungsten concentrate and white tungsten concentrate rising by 30,000 yuan per metric ton in a single day, reaching a new price of 830,000 yuan per metric ton. Galaxy Securities points out that the US military actions against Iran will further lead to an increase in military expenditures by various countries and stockpiling of weapons and equipment, creating additional demand for upstream metals such as tungsten, molybdenum, and germanium used in the defense industry. It is recommended to pay attention to military strategic metal leader stocks such as JIAXIN INTL RES.