HK Stock Market Move | JIAXIN INTL RES (03858) rose over 4% as supply constraints combined with structural demand adjustments are expected to keep tungsten prices high.

JIAXIN INTL RES (03858) rose over 4%, reaching 4.56% as of the time of writing, priced at HK$61.85, with a trading volume of HK$102 million. In terms of news, the United States announced that it will prohibit the export of tungsten waste and recycled battery materials starting later this month, further tightening global tungsten supply. Additionally, Chongyi Zhangyuan Tungsten recently announced its long-term procurement quotes for the first half of August 2026, with prices for three core product categories raised by 1,000 yuan compared to the second half of July. Xiangcai Securities believes that global tungsten demand is expected to show sustained growth, particularly in high-value sectors such as AIPCB precision tools and military aerospace. Coupled with the difficulty of filling the global supply gap, and with supply constraints alongside structural demand adjustments, the price center for tungsten is expected to remain high.