JIAXIN INTL RES (03858) shares climbed nearly 5% in Thursday trading, last up 4.71% at HK$55.55 with turnover reaching HK$14.36 million.

On the news front, Monday saw U.S. tungsten producer The Elmet Group Co. announce a US$450 million investment commitment from the U.S. Department of War to accelerate its manufacturing capabilities. ELMT stated the funding will be directed toward boosting domestic tungsten production and strengthening its mining and processing operations.

Notably, with tightening raw material supply for tungsten, countries and enterprises worldwide are actively scouring for both short-term and long-term alternative supply sources. According to CCTV Finance, international market prices for mid-stream tungsten products have skyrocketed approximately 9-fold over the past two years. Recently, the United States, United Kingdom, Vietnam, Zimbabwe, and other nations have successively adjusted their tungsten-related policies, signaling an escalating global scramble for tungsten resources.

Guotou Securities International previously noted that the company stands as a pure-play tungsten concentrate target on the Hong Kong stock market. Benefiting from higher average selling prices and increased output of tungsten concentrate in the first half of the year, the company swung to a net profit attributable to shareholders in the same period, achieving rapid growth.