Hong Kong Stock Concept Tracking | Chongyi Zhangyuan Tungsten Raises Tungsten Prices Domestic Tungsten Prices Show Signs of Increase Again (With Concept Stocks)

Chongyi Zhangyuan Tungsten announced the long-term procurement prices for the first half of August 2026: 55% black tungsten concentrate: 412,000 yuan/standard ton; 55% white tungsten concentrate: 411,000 yuan/standard ton; ammonium paratungstate: 606,000 yuan/ton. Note: The above prices include a 13% value-added tax. Chongyi Zhangyuan Tungsten's long-term procurement prices for the second half of July 2026 were: 55% black tungsten concentrate: 411,000 yuan/standard ton; 55% white tungsten concentrate: 410,000 yuan/standard ton; ammonium paratungstate: 605,000 yuan/ton. Note: The above prices include a 13% value-added tax. The United States will prohibit the export of tungsten waste and recycled battery materials starting later this month, just under a week after Trump authorized relevant departments to keep potential critical materials domestically. CICC research report pointed out that current demand from emerging sectors like AI and high-end equipment is growing rapidly, and the profit margins in key segments of the Chinese tungsten industry chain's downstream and midstream are continuously improving. Domestic tungsten prices have shown signs of rising again after stabilizing following a decline in July, with overseas premium rates also reaching a historic high. CICC believes that leading companies in the Chinese tungsten industry are likely to experience simultaneous increases in both volume and price, and the current valuation level presents significant attractiveness. Minmetals Securities pointed out that rising geopolitical risks have brought elasticity to tungsten prices. In the short term, the core characteristics of the tungsten market are domestic demand recovery, external supply shortages, and cautious downstream procurement. Domestic supply and demand continue to show a weak balance; however, if geopolitical tensions worsen further, global military and strategic reserve demand might align, leading to a potential increase in the central price of tungsten. JIAXIN INTL RES (03858): JIAXIN INTL RES previously issued a profit warning, expecting a net profit attributable to equity holders of about HKD 1.45 billion to 1.55 billion for the first half of 2026, significantly reversing losses from the same period last year when commercial production had only just begun for less than two months; during this period, the average selling price of tungsten concentrate has risen sharply. The company recently announced plans to use up to HKD 200 million for its share buyback program in the second half of the year. Additionally, according to UBS predictions, JIAXIN International's concentrate production this year is expected to reach 8,600 tons, with production increasing to 11,100 tons and 11,700 tons in 2027 and 2028, respectively, and the gross profit margin in 2028 is expected to rise to 77%.