[Thailand plans to raise excise tax on imported EVs to at least 30% from 2027]

The most-traded SHFE tin contract closed up 0.69% today at 379,980 yuan/mt, with an intraday range of 374,580-384,000 yuan/mt and a turnover of 53.1 billion yuan. According to SMM's latest weekly data released last Friday (October 16), China's tin ingot social inventory fell to 7,770 mt, with a single-week destocking of 980 mt, and warehouses in all three locations pulled back simultaneously. SHFE tin warrants continued to decline to around 3,280 mt, leaving exchange-deliverable supply tight. The domestic spot market remained in a premium state, with spot prices against the most-traded contract reported at a premium of 2,000 yuan/mt in mid-October, significantly wider than before the holiday, and the backwardation structure in near-month contracts provided spot support to futures. Core logic: Tin ingot inventories in China and overseas are destocking in tandem to historically low ranges, compounded by slow production resumptions in Wa State, Myanmar, and disruptions from Indonesia's export policies, with the tight spot supply supporting a sustained backwardation structure. Going forward, attention should be paid to the possibility of a deepening backwardation structure on the LME.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 19 Oct , 2026

According to a Sunday report by Seoul Economic Daily, Samsung Electronics will adopt TSMC's 3-nanometer process to produce base dies for Nvidia's next-generation custom HBM chips. The move will mark the first time Samsung has collaborated with TSMC in the HBM manufacturing stage. Citing industry sources, the newspaper said Nvidia has asked Samsung, SK Hynix, and Micron Technology to use TSMC's process to manufacture NVHBM base dies and to use sixth-generation DRAM technology for their core chips. According to the company, NVHBM, released in August this year, integrates Nvidia's custom memory controller into the base die, aiming to achieve standardized implementation across multiple memory suppliers. According to Seoul Economic Daily, Samsung accepted Nvidia's request after an internal evaluation but plans to continue using its in-house production model for standard HBM and custom products for other clients. Citing sources, the newspaper said Samsung is also evaluating whether its own toll manufacturer can produce NVHBM base dies if demand exceeds TSMC's capacity.