[SMM Tin Flash News: Nomura: The Upcycle in the Chip Industry Has Yet to Peak, South Korea’s Trade Surplus Is Expected to Double]

Published: Apr 2, 2026 10:00

Save

Nomura Securities economist Jeong Woo Park said that, driven by strong semiconductor exports, South Korea’s trade surplus this year could widen from $77 billion in 2025 to around $200 billion. After South Korea’s export growth in March surged to 48% from 29% in February, affected by robust chip demand, Park wrote in a report: “There is no sign whatsoever that the chip upcycle is peaking, and strong pricing effects and artificial intelligence demand will continue to support double-digit growth.” He also downplayed concerns that the conflict in the Middle East could disrupt supplies of helium and other critical inputs needed for chip manufacturing. He noted that chip companies held three to six months of inventory of key inputs, and that the conflict was unlikely to disrupt exports.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

[SMM Tin Flash: GAC Group: March Automobile Production Reached 193,800 Units, up 2.60% YoY]

GAC Group announced that in March 2026, automobile production was 193,800 units, up 2.60% YoY, and sales were 176,900 units, up 1.68% YoY; cumulative production for the year was 394,800 units, down 3.99% YoY, and cumulative sales were 379,900 units, up 2.38% YoY. In March, NEV production and sales were 56,163 units and 57,577 units, up 18.91% YoY and 72.58% YoY, respectively.

1 hour ago

[SMM Tin Flash: CPCA Estimated That National New Energy Passenger Vehicle Wholesale Volume by Producers Reached 1.12 Million Units in March 2026, Flat YoY and Up 55% MoM from February]

The CPCA said today that in China’s passenger vehicle market, in February 2026, the wholesale sales of producers with new energy sales of more than 10,000 units accounted for 93% of total passenger NEV sales for the month. According to preliminary compiled data for March, the March sales of these enterprises with February new energy sales of more than 10,000 units reached 990,000 units. At present, sales figures for most producers had basically been locked in at a broad level. Some producers whose wholesale volumes were relatively low in February due to the Chinese New Year factor performed very well in March. Therefore, based on last month’s structural mix combined with this month’s data, March nationwide passenger NEV wholesale sales were estimated at 1.12 million units. In summary, based on preliminary monthly CPCA data: nationwide passenger vehicle producers’ new energy wholesale sales in March 2026 were estimated at 1.12 million units, flat YoY and up 55% MoM from February.

1 hour ago

Common.Time.hoursAgo

The Operating Rate of the Enamelled Wire Industry Was Expected to Pull Back to 73.81% in April

SMM expects the operating rate of the enamelled wire industry to pull back to 73.81 in April. It is understood that by month-end March, new orders in the enamelled wire industry had already pulled back, and the market showed a marked divergence in demand structure. Among them, demand in sectors such as electric power and two-wheelers remained steady and improving, providing effective support to the industry; however, demand in the home appliance segment weakened more than expected, becoming the core variable dragging down overall prosperity, and enterprises remained cautious about the sustainability of April orders.

Common.Time.hoursAgo