NewzThe price of tin hit its all-time high of US$59,000 (RM241,309) per tonne on June 2, 2026. (MSC pic) PETALING JAYA: Malaysia Smelting Corp Bhd (MSC) has been riding the wave of soaring tin prices this year, and investors are anticipating another set of stellar results for its upcoming second quarter (Q2 FY2026) announcement next month.For its first quarter ended March 31 (Q1 FY2026), net profit surged 456% to RM42.93 million from RM7.72 million a year ago, driven by higher tin prices and stronger performance from both its tin mining and smelting segments.MSC’s Q2 performance will likely be boosted by the elevated tin prices during the second quarter, which culminated in the metal hitting its all-time high of US$59,000 (RM241,309) per tonne on June 2, 2026.This broke the commodity’s previous record of approximately US$51,000 per tonne set in March 2022. Tin is currently trading around the US$53,900 level.The surge was driven by massive demand for tin solder used in semiconductor chips and artificial intelligence (AI) data centres, and severe supply crackdowns on illegal tin mining in Indonesia, the world’s biggest exporter of tin.MSC’s jewel in its crown is its tin mining business, which net profit surged almost four-fold year-on-year to RM41.2 million in Q1 FY2026.
In contrast, its tin smelting segment’s net profit amounted to RM12.5 million in the first quarter.The company’s strong Q1 performance helped push its shares to a new all-time high of RM2.27 on May 25. It reached a new record high of RM2.33 on June 4.It closed at RM1.91 today, valuing the group at RM1.6 billion. The stock is up 21.7% year to date and 64.7% over the past one year.In a recent note, JF Apex Securities kept its “buy” call on MSC and raised its target price to RM3.06, an upside of 60% from the current price.Research houses agree that the outlook for the tin market remains positive, with prices expected to stay elevated amid a looming supply deficit.“The elevated price is being sustained by supply concerns in Myanmar and Indonesia, coupled with growing demand from the energy and digital transitions.“These factors are further amplified by speculative positioning, set against a backdrop of tight inventories on major metal exchanges,” said Public Investment Bank in an earlier report.To address this, it said MSC is scaling up its mining operations through investments in related infrastruct…
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