The price center of the most-traded SHFE tin contract remained near 400,000 yuan/mt, and the spot market did not see any large-scale transactions [SMM Tin Morning Brief].

June 11, 2026 SMM Tin Morning Brief:

Futures: The most-traded SHFE tin contract rose slightly before pulling back in the night session, with the price center remaining around 400,000 yuan/mt, closing at 399,700 yuan/mt, down 0.04%.

Macro: (1) According to a Counterpoint report, global smartphone SoC shipments fell 8% YoY in Q1 2026, with analysts noting that persistent memory supply shortages were the main factor dragging down overall shipments. MediaTek topped the list with a 32% share in Q1, followed by Qualcomm at 23%, Apple at 19%, Unisoc at 14%, Samsung at 7%, and HiSilicon at 6%. (2) Youyan Powder Materials announced that its stock experienced abnormal fluctuations, with the cumulative deviation of closing price increases over three consecutive trading days (June 8, 9 and 10) reaching 30%. The company’s additive manufacturing powder capacity expansion project is still under construction, with no significant new orders added recently. The market has recently focused heavily on concepts related to memory chips, PCBs, and optical modules, but since the company's products are upstream raw materials and downstream applications are uncertain, the company's current performance has not been significantly affected.

Fundamentals: (1) Supply side: Most smelters focused on stable production in June. (2) Demand side: Downstream purchases remained cautious, conducted based on orders.

Spot Market: Downstream enterprises held a band-like purchasing mentality of “buy a little on dips and replenish further if prices fall again.” As absolute high prices slid, the spot market did not see large-scale transactions. Downstream players remained cautious about current prices, mainly placing small orders. Suppliers maintained a moderate pace of shipments, and spot premium quotes for mainstream brands moved sideways.

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