SMM Tin Market Daily Review (2015-4-1)

IQE reported H1 2026 revenue of £64.6 million, up 43% YoY, while Photonics revenue rose 45% to £38.5 million, supported by US defence funding releases and continued growth in AI and datacenter markets. The company said strong InP demand is driving volume growth and that existing tooling will be converted in H2 to increase InP capacity for significant AI and datacenter demand. IQE expects FY2026 revenue growth above 30%. SMM views simultaneous growth in InP volumes and capacity as direct support for medium-term high-purity indium demand. However, IQE did not disclose InP shipment volumes or indium feedstock consumption, preventing a quantitative estimate.