Indonesia's September Refined Tin Exports up 16% YoY

Australian mining exploration company Caspin Resources (ASX: CPN) announced that the mineral resource estimate for the Kelpie tin deposit within its wholly owned Bygoo tin mine project in New South Wales has increased by 45%, now reaching 6.5 million mt at a tin grade of 0.43%, containing 28,000 mt of tin metal content. The resource lies entirely within an optimized open-pit mining shell, includes measured resources (Indicated) accounting for 25% of the total for the first time, and is supported by well-established mining and processing parameters.

According to data from market research firm IDC, smartphone shipments plunged 22% in Q3 due to rising memory chip costs, marking the steepest decline on record, and the situation could worsen further. IDC noted that over the past year, order demand from the artificial intelligence (AI) industry has driven up memory chip costs, severely eroding profitability across the entire handset industry and forcing producers to raise selling prices, lower product specifications, and abandon low-cost models aimed at budget-conscious consumers. IDC research director Nabila Popal said: "Current indicators show the market has not yet hit bottom. Memory chip costs have surged roughly 350% since last year and are still rising, putting enormous pressure on producers' margins and shipments. The worst is yet to come.

[SMM Tin Midday Review: Inflation Rebound Strengthens Tightening Expectations, Tin Prices Continue Downward Trend, Spot Market Trading Active]