SMM Tin Morning Update on June 9, 2026:
Futures: The most-traded SHFE tin contract opened slightly higher in the night session and then held sideways, with the price center around 400,000 yuan/mt, closing at 401,590 yuan/mt, down 0.79%.
Macro: (1) Apple (AAPL.O) released its next-generation artificial intelligence platform, which includes upgrades to Siri. Apple's software chief Federighi Craig said during the company's Worldwide Developers Conference (WWDC) keynote speech that the new Apple Intelligence, underpinned by Google technology, will be able to better understand the contextual information of user requests. This is a critical moment for Apple. When Apple first released the Apple Intelligence platform two years ago, many features rolled out slowly or lagged behind competitors in performance. The comprehensive upgrade of Siri is the core of Apple's AI recovery plan. Since its initial launch in 2011, Siri has failed to keep pace with competitors in AI capabilities. Federighi said at the event that the new software update will focus on three areas: artificial intelligence, performance improvements, and security. On the Mac product line, the next-generation macOS will be named Golden Gate. Apple also made adjustments to the Liquid Glass design released last year, with one change being the addition of a slider feature that allows users to adjust the intensity of visual effects. (2) According to The Information, TSMC's (TSM.N) capacity challenges are becoming a boon for Intel (INTC.O). As the chipmaking giant struggles with huge demand for its chip manufacturing capacity, several major AI chip design companies, including Google (GOOG.O) and Nvidia (NVDA.O), are quietly turning to Intel as an alternative manufacturer. It is reported that Nvidia is evaluating Intel's advanced packaging and 18A process for future chips. In addition, the report says that Google recently placed an order with Intel to produce over 3 million TPUs by 2028. Upon this news, Intel (INTC.O) shares rose over 10% in pre-market trading.
Fundamentals: (1) Supply side: In June, most smelters focus on stable production. (2) Demand side: Downstream purchasing remains cautious, driven by orders.
Spot market: As futures declined, briefly dipping below 400,000 yuan/mt, the spot market saw some release of the purchase willingness long suppressed by high prices. Most traders reported that the inquiry and shipment atmosphere in the spot market was moderate.
[Data source statement: All data other than public information are derived from public information, market communication, and SMM's internal database models, processed by SMM, for reference only, and do not constitute decision-making advice.]The information provided is for reference only. This document does not constitute direct advice for investment research decisions. Clients should make decisions with caution and not replace their own independent judgment with this. Any decisions made by the client are unrelated to SMM】
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