Is the electronics chain recovering?

The electronics industry chain is still looking forward to more demand to inject recovery momentum, the inventory problem is still to be resolved. Industry rumours that Samsung intends to reduce production of mature process wafer foundry, as well as TSMC cancelled some of the equipment orders, reflecting the demand for the relevant chip is still not yet recovered. In contrast, ADI, Texas Instruments and other important IC original factory still continue to expand production, STMicroelectronics, ON Semiconductor, Amkor and other companies in the field of car core is also deepening the layout. With the advance of the market cycle, memory is expected to end the trend of falling prices, Micron has begun to lock the lower limit of the product offer in May, and other original factories have also begun to try to raise prices. The rise of the AI field will drive the demand for high-bit-width HBM storage, SK Hynix and Samsung as the highest share of the two major manufacturers, will fully benefit from it.

Hot Index: #MCU tops the list, high-priced automotive materials maintained

STM32 and TMS320 two categories of indicator materials ranked in the top three, in which the higher-end STM32F429 heat climbed to the first place, while the basic F103 fell to third place. Other hot search materials, to the continuation of the previous high-priced automotive materials, including NXP's MCF5282, TI's TO3853QDCARQ1, and ST's VNH5019 and so on. Other aspects, NXP's pressure-sensitive sensor MPXAZ6115AP, TI's Darlington tube ULN2803A and so on are also within the hot search list.

Price fluctuation index: prices generally have declined, high-priced car materials basically maintained

The prices of hot search materials generally showed a downward trend, which is directly related to the general improvement of the original supply, as well as the prolonged inventory adjustment caused by the less-than-expected recovery of terminal demand. General-purpose materials, MCU indicator models ranked in the list of the first three, all prices fell, of which the STM32F429 range is the largest. Several types of high-priced automotive materials are still fluctuating above the $1,000 price level, reflecting the current situation of oversupply and difficult to replace. Among them, ST's VNH5019A had a significant price increase in the second quarter, but also the largest price increase in the list of materials.

Inventory situation: core supply improved, some tight material still available

Inventories of a number of automotive materials showed an increasing trend, covering brands such as Infineon, TI and NXP, which is directly related to the recent improvement in the supply situation of the original plant, as well as the progress of the automotive industry chain restoration is obvious. General-purpose materials, the supply situation continues to improve, especially TI in the domestic market to launch price competition, in favour of its analog material supply continued to grow. However, there are still some automotive materials and general materials in the market with tight supply, which is reflected in the obvious decline of the inventory change index in the second quarter.

In short, due to the terminal market recovery is not as expected, as well as the original supply situation generally improve the reason, ST, TI, ADI and other brands of general-purpose materials market inventory increased, promote their prices continue to close to the normal direction. In particular, the industry rumours of TI price reduction plan, will make the domestic general-purpose PMIC and signal chain analog market competition intensified. Automotive materials, a number of high-priced models in the first quarter continued into the second quarter, including MCU, PMIC and other types. By the end of the second quarter, except for a few high-priced models, the overall supply of automotive materials has improved significantly. Memory, DRAM and NAND flash memory two doors continue to fall in price. 5-6 months, the original factory initiated production cuts, intended to restore prices in the traditional peak season in the third quarter. AI demand surge, so that TSMC advanced process foundry and SK Hynix, Samsung two plants HBM memory to expand revenue opportunities. However, the consumer electronics recovery is less than expected, but in the lead to mature process foundry capacity utilisation rate declined one after another, a number of foundries to take disguised price cuts to stimulate customers to invest in film.