JIAXIN INTL RES (03858) experienced a significant intraday decline of 5.09% on Monday, reflecting heightened investor concerns over recent volatility in the tungsten market and broader industry challenges.

The company's stock movement comes amid reports of substantial price corrections in the tungsten sector. Following an unexpected surge in oil prices triggered by Middle East conflicts earlier this year, the previously overheated domestic tungsten market reversed course, leading to a wave of selling across the industrial chain. Domestic tungsten prices fell 61% from their March peak to a yearly low in May, though they have shown initial signs of stabilization recently at 416,000 yuan per ton.

Analysts note that JIAXIN INTL RES is particularly exposed to these price fluctuations as the company's entire revenue is derived from scheelite concentrate produced at its Bakuta mine. Industry reports indicate that recent price declines for tungsten concentrate were driven by the release of earlier inventories, increased scrap tungsten supply, import supplements, and受阻 exports. Despite these headwinds, some institutions believe tungsten prices are expected to stabilize between June and July as production cuts in smelting and inventory drawdowns take effect.