Tin Futures (SHFE)

Jin Yin He announced that its holding subsidiary, Jiangxi Jinde Lithium, has acquired the exploration rights for the Jiaokeng tin polymetallic deposit in Yudu County, Jiangxi Province, for 25.01 million yuan, and recently obtained the exploration license issued by the Ministry of Natural Resources. The exploration right is located in the southern Jiangxi nonferrous metal metallogenic belt, covering an exploration area of 1.749 square kilometers, with tin as the target mineral. This move aims to enhance the company's industrial layout in new energy and rare precious metals such as lithium, tin, rubidium, and cesium, and strengthen its independent resource security capability. However, there are uncertainties regarding the actual mineral types and resource quantities, and investors should be aware of the risks.

The CSI Non-Ferrous Metals Index, tracked by the Southern CSI Non-Ferrous Metals ETF, surged 5.54% yesterday. As of the close on July 14, 2026, the Southern CSI Non-Ferrous Metals ETF saw a turnover rate of 5.47%, with trading volume reaching 1.161 billion yuan, and closed up 5.98% on the day. Factors such as copper inventory destocking, the implementation of new national standards for rare earths, and the growing strategic value of minor metals have jointly fueled the sector's rally, with the market's previously pessimistic pricing of long-term supply and demand seeing some correction. In industrial metals, copper concentrate processing fees remain low, while both exchange and social inventories of copper have declined simultaneously. Aluminum inventory destocking continues, and tin supply remains relatively tight. In rare earths, the implementation of new national standards for recycled rare earths has tightened compliant scrap supply, strengthening constraints on praseodymium-neodymium supply and demand. Minor metals such as tungsten, molybdenum, tantalum-niobium, and tin are seeing their strategic attributes further highlighted, driven by demand from domestic substitution, the AI industry chain, and high-end manufacturing.

Alphamin Resources Corp. has issued record second-quarter EBITDA guidance of US$167 million, a 6% increase from the prior quarter. The company produced 5,013 tonnes of contained tin and sold 5,014 tonnes during the quarter ended June 30, 2026, achieving a four-quarter rolling sales total of 20,000 tonnes for the first time. The higher EBITDA was driven by a 5% rise in the average realized tin price to US$51,957 per tonne, while all-in sustaining costs per tonne sold increased 6% to an estimated US$19,043 due to higher royalties, export duties, and fuel costs. Alphamin ended the quarter with a net cash position of US$91 million after distributing US$160 million to shareholders and paying US$26 million in corporate taxes. Exploration drilling continued at Mpama North and Mpama South, with visible cassiterite intersected in multiple holes, and the company plans to release an updated resource and reserve estimate in the fourth quarter.