UMC - UMC stock gains as foundries reportedly plan Q3 price hike as global chip shortage continues

United Microelectronics ([[UMC]] +4.1%), China's SMIC (SMICY), and GlobalFoundries are among the foundries expected to again raise price quotes due to the capacity shortages for 8- and 12-inch fabs, according to DigiTimes sources.The Q3 price increase will reportedly be higher than the increases during the first half of the year.Sources say foundry giant TSMC ([[TSM]] +1.4%) has cancelled price discounts for new orders in 2021 and 2022.TSMC and UMC are among the foundries adding capacity to combat the global chip shortage, but that capacity isn't expected to become available until 2023.Related: Last week, AMD amended its wafer supply agreement with GlobalFoundries to lock in capacity and pricing and waive a prior exclusivity agreement. Earlier this month, Gartner forecast that the global chip shortage would last until the second quarter of 2022.

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UMC stock gains as foundries reportedly plan Q3 price hike as global chip shortage continues