On the afternoon of June 5th, semiconductor material stocks continued to be strong. Jianghua Microelectronics hit the daily limit, NATA OPTO-ELECT rose nearly 11%, PERIC increased over 8%, Sanjia Technology, Li'an Micro, and Jingrui Electric Materials rose over 6%, 5%, and 4% respectively, with multiple stocks like Kangqiang Electronics and Kema Technology also rising.
Customs export data shows that in April this year, the average export price of domestic tungsten hexafluoride reached USD 149.79 per kilogram, a year-on-year increase of 28.33% and a month-on-month surge of 203.83%, exceeding expectations. This price signal directly confirms the dramatic change in supply and demand in this field.
According to a report by CICC citing The Elec, due to tight raw materials and capacity constraints, relevant manufacturers in Japan and South Korea have issued price increase notices to customers for October 2025, with product prices set to rise by 70%-90% starting in 2026. In April this year, Japanese companies, which account for about 25% of global supply, further issued supply warnings to South Korean chip manufacturers, increasing uncertainty about Japan's tungsten hexafluoride supply in the second half of the year.
Tungsten hexafluoride is an essential key electronic specialty gas in semiconductor manufacturing. According to publicly available industry data, in processes such as chemical vapor deposition (CVD) for wafer manufacturing, tungsten hexafluoride is the standard precursor gas for depositing tungsten thin films, which possess high electrical conductivity, low resistivity, and high-temperature resistance, making them irreplaceable in advanced processes. According to Business Research Insights, the global tungsten hexafluoride market is expected to reach approximately USD 740 million by 2026 and is projected to reach USD 3.45 billion by 2035, with a CAGR of 19%.
Data from the China Securities Index official website shows that the semiconductor equipment ETF managed by China Merchants (561980) tracks the China Securities Semiconductor Industry Index, with semiconductor materials accounting for as much as 17% of its constituent stocks, while semiconductor equipment accounts for 62% and &#34;Changxin Storage&#34; accounts for about 53%, benefiting significantly from the large cycle of price increases in semiconductor materials and storage. Data shows that this index has risen over 150% in the past year, ranking first among similar indices in the sci-tech chip and semiconductor material equipment sectors.
During the June 3rd roadshow of China Merchants Fund's &#34;Chief Connection: How to View the Semiconductor Market After the Tauτ Law Breaks the Chip Situation?&#34;, Yan Fan, Chief Analyst of Electronics at China Merchants Securities, pointed out that from the current layout, the localization of semiconductor materials has made breakthroughs to varying degrees in multiple segments, accelerating from the 0-1 stage to the 1-10 stage, with relatively high localization rates in segments such as polishing liquids, polishing pads, and target materials, while demand for silicon components and silicon electrodes used in etching has surged under the expansion of high-layer 3D NAND.
From the perspective of subsequent enhancement logic, the space for material localization mainly comes from three aspects: first, domestic logic, storage, and advanced packaging production lines continue to expand, directly increasing the total material consumption; second, process upgrades, high-layer 3D NAND, HBM, and advanced packaging volume drive the increase in the unit value of wafer materials; third, the increase in supply chain security requirements makes wafer fabs more willing to allocate shares for domestically produced materials that have been validated

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Affected by tight raw materials and production capacity, the export price of tungsten hexafluoride, a key semiconductor material, surged over 203% month-on-month in April. Manufacturers in Japan and South Korea have announced significant price increases, adding uncertainty to global supply. This price increase signal has driven stocks of semiconductor material companies such as JHM and NATA OPTO-ELECT to rise sharply, with the market focusing on the investment opportunities and market scale growth expectations brought by this new trend

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China Merchants CSI Semiconductor Industry ETF

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The export price of tungsten hexafluoride skyrocketed by 204%! JHM, NATA OPTO-ELECT, and PERIC saw multiple stocks surge. Is this the new opportunity in semiconductor materials?