The Most-Traded SHFE Tin Contract Fluctuated Upward in Night Session, Spot Market Expected to See Sluggish Trading [SMM Tin Morning Brief]

SMM Tin Morning Brief, April 14, 2026:

Futures: The most-traded SHFE tin contract fluctuated upward after the opening of the night session, closing at 379,080 yuan/mt.

Macro: (1) On the morning of April 13, the opening ceremony of the 2026 World Internet Conference Asia-Pacific Summit was held at the Hong Kong Convention and Exhibition Centre. The two-day summit, themed "Digital Intelligence Empowering Innovative Development — Jointly Building a Community with a Shared Future in Cyberspace," focused on innovative technology in the Asia-Pacific region, breaking geographical boundaries, and advancing global digital innovation and technological exchange to new heights. Lee Ka-chiu, Chief Executive of the Hong Kong Special Administrative Region, heads of central government institutions stationed in Hong Kong, and distinguished guests from various sectors attended the event. During the summit, an opening ceremony and a main forum were held, along with 6 sub-forums covering topics such as intelligent agent innovation and application, digital finance, AI safety governance, smart livelihood, digital health, and digitalization and dissemination of classical texts. (2) According to the China EV100 Research Institute, the "Strategic New Materials Innovation and Application Platform" was officially established in Beijing. This platform was jointly initiated by over 30 vehicle manufacturers, parts and materials enterprises, and research institutions, aiming to establish a collaborative innovation system integrating vehicles + parts + materials + technology + standards + supply chains, and to promote the innovative application of new materials in the automotive industry. On a broader level, it provides core support for the security assurance of strategic new materials.

Fundamentals: (1) Supply side: In April, most smelters have been focused on maintaining stable production. (2) Demand side: Downstream procurement has been relatively cautious, with purchases made based on order conditions.

Spot market: Previously, during the phase of stagnant macro sentiment and futures fluctuating at highs, downstream enterprises mostly adopted a wait-and-see approach and focused on depleting existing inventory. Spot market transactions are expected to remain sluggish today.

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