This broke the commodity’s previous record of approximately US$51,000 per tonne set in March 2022. 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 fourfold 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. Listed on Bursa Malaysia and the Singapore Exchange, MSC is one of the world’s largest producers of tin and tin-based products, and a global leader in custom tin smelting since 1887.