In two trading sessions on August 29 and September 3, MSR shares of Masan High Tech Materials surged by 15%, reaching 22,500 VND with high liquidity. Vietcap noted that Masan’s business is seeing many advantages as APT product prices peaked at around 630 USD/mtu, which is 1.5 times higher than at the beginning of the year following China’s tungsten export controls. Vietnam is projected to be the second-largest tungsten producer in 2024 with around 3,400 tons. Thanks to the high sales prices, Masan returned to profitability after several quarters of losses, reducing its loss by 860 billion VND in the first half of 2025. Vietcap estimates that Masan’s mining sector will contribute around 6.5% to Masan Group’s profits in 2025, with a target price for MSN at 101,000 VND/share, 22% higher than the current market price.
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