US Dollar Index Breaks Above the 100 Mark, the Most-Traded SHFE Tin Contract Falls [SMM Tin Midday Review]

Published: Jun 22, 2026 11:59

Save

[SMM Tin Midday Review: US Dollar Index Breaks Through 100 Level, Most-Traded SHFE Tin Contract Weak]

Tin Midday Review on June 23, 2026

On the price front, the most-traded SHFE tin contract opened at 424,030 yuan/mt and closed the morning session at 404,600 yuan/mt, down 3.21%. LME three-month tin was temporarily trading at $52,445/mt, down 1.48%.

On the macro front:

(1) Ministry of Finance: In January-May, national general public budget revenue reached 10,046.5 billion yuan, up 4% YoY; securities transaction stamp tax was 126.2 billion yuan, up 88.8% YoY.

(2) UK Prime Minister Starmer announced his resignation, saying he would give unreserved support to his successor. The new leader will take office in September.

On the spot front, as the most-traded contract price pulled back to around 405,000 yuan/mt, some downstream and end-user manufacturing enterprises entered the market to make small purchase orders. Spot premiums for mainstream brands in the market rose slightly as prices fell, while overall willingness to sell among holders was moderate.

Overall, the US Fed's hawkish signals boosted rate hike expectations, the US dollar index broke through the 100 mark, and the nonferrous metals sector faced systemic pressure. US-Iran negotiations remain volatile, and while expectations for the opening of the Strait of Hormuz persist, uncertainty is high. It is expected that in the short term, before macro sentiment fully stabilizes, the most-traded SHFE tin contract will remain largely in the doldrums.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Common.Time.hoursAgo

Data: SHFE, DCE market movement (Jun 23)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 23 Jun , 2026

Common.Time.hoursAgo

[Morningstar: Leading memory chip makers' capital expenditure may further increase in 2026 and 2027]

Morningstar analyst Phelix Lee noted in a report that capital expenditure by leading memory chip makers may further increase this year and next. This growth is largely driven by newly negotiated long-term supply agreements with clients, which Morningstar believes contain terms conducive to sustaining stable profit margins and imply that clients have assumed higher financial commitments. As a result, memory chip capacity growth could be very robust, especially in the DRAM and HBM segments.

Common.Time.hoursAgo

Bearish Resonance Caused SHFE Tin to Lose the 410,000 Mark, and Downstream Just-in-Time Procurement Failed to Conceal the Decline [SMM Tin Morning Report]

[SMM Tin Morning Brief: Bearish Resonance Pushes SHFE Tin Below the 410,000 Mark, Downstream Just-in-Time Procurement Fails to Conceal the Downturn]

Common.Time.hoursAgo