Group 1 - The core viewpoint of the articles highlights the significant rise in tungsten prices, with prices for tungsten powder (≥99.7%) reaching 1.01 million CNY per ton, an increase of 219.6% since the beginning of the year [1][2] - Jaxin International Resources (03858) has seen its stock price rise over 6%, reaching a new high of 45.8 HKD, driven by the bullish trend in tungsten prices and increased trading volume of 14.2566 million HKD [1] - The recent acceleration in tungsten price increases is attributed to supply contraction and adjustments in long-term contract prices as the year-end approaches [1] Group 2 - Jaxin International is focused on developing the Bakuta tungsten mine project in Kazakhstan, benefiting from top-tier resource endowments and rapid capacity release [2] - The current stock price of Jaxin International is viewed as a short-term reflection of tungsten price expectations, not fully capturing its long-term intrinsic value as a highly elastic investment in the context of the tungsten price upcycle [2] - Key variables that outline the long-term value of Jaxin International include production, price, and cost, which can be assessed through simple calculations to determine the company's true long-term value [2]

消息面上，中钨在线数据显示，截至12月18日，钨精矿、仲钨酸铵、钨粉价格继续上调，其中钨粉 （≥99.7%）报价已经达到101万元/吨，较年初涨219.6%；Wind采集的国产钨粉（≥99.7%）价格，则升 至104.5万元/吨，并且上涨速率较11月提升非常明显。业内人士指出，钨价近期的加速上涨则可能与临 近年末的供给收缩与长单价格上调有关。 智通财经APP获悉，佳鑫国际资源(03858)早盘涨超6%，高见45.8港元创上市新高。截至发稿，涨 6.17%，报45.8港元，成交额1425.66万港元。 智通财经APP在《钨价年内狂飙220%创历史新高，最具弹性标的佳鑫国际（03858）或有10倍空间？》 中指出，佳鑫国际是扎根于哈萨克斯坦的钨矿公司，专注于开发巴库塔钨矿项目。凭借全球顶级资源禀 赋、央企协同赋能、产能快速释放，以及未来成本优势凸显的等多个亮点，佳鑫国际已成为了资本市场 中的"香饽饽"。若以长期视角来看，佳鑫国际当前的股价仅是对钨矿短期价格预期的反馈，并未充分反 映其作为钨矿涨价大周期下最具弹性投资标的的长期内在价值，而产量、价格、成本这三个数据是勾勒 佳鑫国际长期价值的核心变量，只需做简单测算， ...