Resource reallocation to advanced processes has constrained niche capacity. Driven by inelastic demand in networking and automotive applications alongside severe shortages, SLC prices have surged sharply. While MLC retains baseline demand support, downstream cost tolerance has reached its limit, narrowing price gains toward high-level consolidation. Looking ahead, market trajectories are expected to diverge further, with SLC remaining strong and MLC leveling off.

Key Highlights

• Supply and Demand Divergence: Original manufacturers are concentrating resources on advanced processes, squeezing mature node capacity. This creates a dual market environment in niche segments—characterized by severe supply shortages with price spikes alongside buyer cost constraints.
• SLC Prices Surge Strongly: Driven by resilient, inelastic demand from networking, automotive, and smart metering sectors, coupled with extremely low inventory levels, market quotes continue to rise sharply.
• MLC Price Gains Narrow Significantly: Although legacy platform customers face difficulties substituting parts, prolonged prior price hikes have pushed downstream cost absorption to its limit, shifting prices into a high-level digestion phase.
• Clear Future Outlook: Moving forward, SLC prices will remain elevated and strong as capacity stays constrained ahead of an upcoming demand surge. Conversely, with buyer willingness to chase higher prices weakening, MLC price growth will slow and transition into high-level sideways consolidation.

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