SMM

Global Semiconductor Market Value Continues to Grow; Spot Market Transactions Remain Sluggish [SMM Tin Morning Brief] According to the report by WSTS (World Semiconductor Trade Statistics), the global semiconductor market value reached $170.9 billion in Q4 2024, up 17% YoY and up 3% QoQ. The annual market size was $628 billion, representing a 19.1% increase compared to 2023. Industry sources indicated that NVIDIA's next-generation Blackwell architecture GPU chips are in strong demand, with over 70% of TSMC's CoWoS-L advanced packaging capacity for this year already booked. Shipments are expected to grow by more than 20% per quarter. However, recent spot market transactions remain sluggish, as most downstream companies opt to consume existing inventory rather than actively procure. Due to high tin prices, market inquiry enthusiasm has weakened, and a general sentiment of caution prevails. Some downstream companies have made just-in-time procurement in small quantities during SHFE tin price corrections. Many traders reported that a significant number of clients' post-pricing orders for 250,000-yuan warehouse positions remain incomplete, currently in the stage of additional margin calls. If prices continue to rise, it may exert certain pressure on the cash flow of downstream companies.