DRAM Market Bulletin - Sep. 24, 2025

Last Modified

2025-09-24

Update Frequency

Weekly

Format

PDF

Tight DRAM supply fuels rising contract/spot prices. Low supplier inventory driven by strong US CSP demand. Client stock levels vary, but continued price hikes are expected.

Key Highlights

Contract & Spot Markets: Tight DRAM supply fuels significant price hikes; 4Q25 contract prices are projected to rise over 10% QoQ, with spot prices (DDR4 strong) also climbing.
Supplier Inventory: Major suppliers' inventories are declining, driven by robust US CSP demand, ensuring no high-risk levels and further reductions in 4Q25.
Client Inventory Overview: PC OEMs' stock is slightly down but may actively procure in 4Q25. Hyperscalers show strong demand for high-capacity modules. Enterprise Server OEMs remain conservative. Smartphone LPDDR4X is critically low, and LPDDR5X supply is constrained.