The most-traded SHFE tin contract moved sideways during the night session, while the overall trading atmosphere in the spot market was subdued [SMM tin morning briefing]

June 18, 2026 SMM Tin Morning Flash:

Futures: The most-traded SHFE tin contract moved sideways in the night session, closing at 423,800 yuan/mt, up 0.21%.

Macro: (1) On the 18th, SK Hynix announced that it has supplied 12-layer HBM4E samples to key clients, a next-generation ultra-high-performance DRAM for artificial intelligence (AI). Its pin speed reaches up to 16 Gbps and improves energy efficiency by more than 20%, enhancing the data processing capabilities essential for AI training and inference. (2) According to the Wall Street Journal, Apple (AAPL.O) CEO Cook Tim said that Apple plans to increase product prices to offset soaring memory and storage chip costs. “Unfortunately, price increases are inevitable,” he said. “We are doing our best to mitigate these enormous upward pressures being passed on to us, and have always tried to protect our customers from price hikes, but the situation has become unsustainable.” Cook declined to disclose the timing or magnitude of the planned price increases, or which products would be affected. Cook said memory and storage chip prices are both problems the company faces, and he is paying particular attention to the DRAM market, noting that more and more resources are now being allocated to so-called high-bandwidth memory used in AI servers. “Consumers need devices, and when memory manufacturers keep pushing up prices, supply is shrinking,” Cook said. “We really need memory prices and supply to return to a reasonable level for consumer products. That is the key.” Cook also said Apple is ready to use its cash reserves to increase memory supply. “We are willing to use our balance sheet to solve part of the problem. Obviously, more capacity is needed.” But Cook also stated that Apple will not use its cash and silicon technology to build its own memory and storage fabs. “We can’t do everything; we know where our strengths lie.”

Fundamentals: (1) Supply side: In June, most smelters are focused on maintaining stable production. (2) Demand side: Downstream purchasing remains cautious, with purchases based on orders.

Spot market: Overall trading sentiment in the spot market was subdued. Tin prices briefly rebounded after the previous sharp decline, but absolute levels remain at high range. Moreover, with the electronics industry entering the traditional off-season, downstream enterprises such as solder manufacturers only purchase on a “buy-on-dip, just-in-time” basis.

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