[SMM Tin News Flash: Toyota to Build New Auto Plant in India with Annual Capacity of 100,000 Units]

Indonesia’s Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, has announced a suspension of the proposed royalty increases for major commodities, including nickel, copper, tin, gold, and silver. Following the public hearing on May 8, 2026, the Minister emphasized that the previously socialized tariff adjustments are not yet final decisions. He stated that the government will re-evaluate and "pending" the implementation to develop a more balanced formulation that optimizes state revenue without burdening mining companies. While an initial target for implementation was set for June, the ministry is now focused on finding an ideal, mutually beneficial formula before proceeding.

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, suppliers continuously lowered their offers during the day, with the premium center pulling back from around a premium of 50 yuan/mt in the early session to near parity. Some brands even saw slight discounts, reflecting limited downstream acceptance of high copper prices, with procurement driven mainly by rigid demand and insufficient willingness to chase higher prices. The inter-month Contango price spread between futures contracts narrowed, and suppliers' willingness to ship to delivery warehouse weakened somewhat. This Friday is the last trading day of the SHFE copper 2605 contract, and delivery logic is gradually emerging, which will provide bottom support for spot premiums and limit the downside room for further significant declines in premiums. Overall, Shanghai spot copper premiums against the 2605 contract are expected to remain at current levels tomorrow, continuing the weak consolidation trend, but downside room is limited under delivery expectations.