The Most-Traded SHFE Tin Contract Continued to Surge During the Night Session, Further Suppressing Spot Market Transactions [SMM Tin Morning Brief]

SMM Tin Morning Brief, June 2, 2026:

Futures: The most-traded SHFE tin contract opened slightly higher during the night session and then moved sideways, closing at 438,130 yuan/mt, up 2.46%.

Macro: (1) Medikai recently stated during an institutional survey that the company had successfully entered Samsung's supply chain system through the acquisition of 100% equity in Haishuo Optoelectronic Technology (Suzhou) Co., Ltd. and INNOWAVE VIETNAM CO., LTD. Currently, flexible film optical filters for mobile phone camera modules are in continuous mass production, and the wafer-level packaging and testing business for power chips has also entered product verification. (2) Global Chip LOF announced that, to protect investor interests, the fund will be suspended from the market opening on June 2, 2026, and will resume trading from 10:30 on June 2, 2026. Redemption business will proceed as usual during the suspension period. If the secondary market trading price premium of the fund does not effectively pull back on June 2, 2026, the fund reserves the right to apply to the Shanghai Stock Exchange for intraday temporary suspension, extended suspension, and consecutive suspension to warn the market of risks, subject to announcements at that time.

Fundamentals: (1) Supply side: Most smelters focused on stable production in June. (2) Demand side: Downstream procurement remained cautious, with purchases made based on order conditions.

Spot market: As futures price center shifted upward yesterday, wait-and-see sentiment continued to dominate the spot market. Fluctuations in the US dollar index amplified the range of futures fluctuations. However, with the futures price center gradually shifting upward recently, and supply from major producing regions outside China forming a floor of support, the current macro sentiment leaned warm, and the overall futures trend remained relatively strong.

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