Zhi Tong Cai Jing·2026-02-27 02:07Core Viewpoint - The stock of Jiexin International Resources (03858) has seen a significant increase, driven by a strong recovery in the tungsten market post-holiday, with major companies raising long-term prices, indicating bullish market expectations [1] Group 1: Market Performance - Jiexin International Resources' stock rose over 6% in early trading, currently up 5.12% at HKD 89.25, with a trading volume of HKD 66.1346 million [1] - The average price of black tungsten concentrate reached a record high of CNY 733,500 per standard ton on February 25, marking a year-to-date increase of 61.74% [1] - Ammonium paratungstate (APT) also saw a year-to-date increase of 61.94% [1] Group 2: Market Dynamics - Major tungsten companies, including Zhangyuan Tungsten Industry (002378) and Xianglu Tungsten Industry (002842), have continued to raise long-term pricing, reinforcing bullish market expectations [1] - European tungsten market is experiencing a shortage in downstream inventory, contributing to a strong price increase during the holiday period, leading to a global price surge in tungsten [1] Group 3: Strategic Developments - Guojin Securities noted that U.S. lawmakers proposed a "strategic resilience reserve" with a scale of USD 2.5 billion, which may elevate tungsten's priority in overseas strategic reserves [1] - China's announcement regarding strengthened export controls on dual-use items to Japan and the U.S. President's plan to increase military spending to USD 1.5 trillion for the fiscal year 2027 may support continued high inventory levels abroad, further bolstering prices [1]