Core Viewpoint - The A-share small metal industry experienced a collective rise on October 27, with tungsten-related companies leading the gains, driven by strong raw material prices and increased product pricing across the industry [1] Industry Summary - The leading company, Xiamen Tungsten, reached its daily limit up and set a new high, while other companies like Zhongtung High-tech and Zhangyuan Tungsten also saw significant increases of over 6% and 4%, respectively [1] - Tungsten market prices are on the rise, with the price of 65% black tungsten concentrate reported at 285,000 yuan per standard ton, up 99.3% since the beginning of the year; tungsten powder prices at 630 yuan per kilogram, up 99.4%; and tungsten carbide powder at 615 yuan per kilogram, up 97.8% [1] Market Dynamics - Despite the continuous rise in tungsten prices, downstream demand has not increased correspondingly, leading to weak market transactions at high price levels [1] - The short-term tungsten market is expected to be primarily driven by cost factors, with caution advised regarding potential price corrections and changes in downstream acceptance, as well as uncertainties in the international macroeconomic environment [1]

Group 1 - A-shares in the tungsten industry are experiencing a strong performance, with Zhangyuan Tungsten hitting the daily limit, China Rare Earth rising over 4%, Xianglu Tungsten increasing by over 4%, and Xiamen Tungsten up by over 2% [1] - Jiangxi Tungsten Holdings Group has raised the guidance price for black tungsten concentrate to 213,000 yuan per standard ton for the second half of August, an increase of 19,000 yuan per standard ton, representing a 9.79% rise and a month-to-date increase of 17.03% [1] - Tungsten prices have surged recently, with daily increases ranging from 5,000 yuan to 10,000 yuan per ton, leading to a 51.1% increase in the price of 65% black tungsten concentrate compared to the beginning of the year [1] Group 2 - Zhangyuan Tungsten has a market capitalization of 13.9 billion yuan and has seen an 80.03% increase year-to-date [2] - China Rare Earth has a market capitalization of 50.9 billion yuan with a year-to-date increase of 71.12% [2] - Xianglu Tungsten has a market capitalization of 3.615 billion yuan and a year-to-date increase of 77.94% [2] - Xiamen Tungsten has a market capitalization of 43.3 billion yuan and a year-to-date increase of 44.32% [2]