Scrap gold and silver prices drop, Platinum gains on Index

SUMCO, a major global silicon wafer manufacturer based in Japan, recently announced adjustments to its capacity expansion plans, putting its new plant project on hold and focusing resources on upgrading existing facilities and conducting R&D on advanced process technologies. It is understood that following this adjustment, the related subsidy amount SUMCO receives from Japan’s Ministry of Economy, Trade and Industry has been reduced from the originally planned 75 billion yuan to 19.3 billion yuan. The company stated that it will focus its development efforts on technological upgrades and capacity optimization at existing plants in places including Imari City, Saga Prefecture, while giving priority to advancing R&D on silicon wafer technologies suited to cutting-edge chip manufacturing processes and increasing capacity.

On March 30, the Shenzhen Municipal Commerce Bureau issued the Three-Year Action Plan of Shenzhen to Promote the Improvement of Quality and Efficiency in Foreign Trade—Special Measures for “Export Shenzhen.” It stated that support would be provided for the import of advanced technological equipment and key parts needed for the development of the “20+8” industrial clusters; enterprises would be guided and assisted in actively applying for national import interest subsidy support for technologies and products included in the Catalog of Technologies and Products Encouraged for Import; and “one-on-one” tax reduction and exemption guidance services would be provided for enterprises engaged in related frontier technology products. Personalized regulatory measures would be formulated for the import of important intermediate products required for the development of industries such as integrated circuits and flat-panel display modules, so as to promote the efficient input of key materials and components into R&D and production. Efforts would also be made to explore and advance pilot imports of used key parts for automotive R&D testing.

[SMM Tin Midday Commentary: With the U.S.-Iran Negotiations Entering the Final Countdown and the Risk of Shipping Blockades, Low Inventory Underpinned Tin Prices as They Fluctuated at Highs]