SEMCO raised MLCC prices to OEMs/ODMs, signaling an industry upcycle, driven by strong AI server demand and panic buying; Japanese makers' response is key to watch.

Key Highlights

• Samsung Electro-Mechanics raised MLCC prices directly to OEMs/ODMs, with clear hikes on consumer-grade and AI-grade products, marking the start of an industry upcycle. 
• Weak US economic data and persistent inflation pressure keep the Fed on hold, limiting traditional consumer electronics momentum.
• AI server and data center platforms continue ramping up, tightening supply of high-capacitance, low-voltage MLCCs.
• Tight optical module and automotive supply is spilling orders to Taiwan/China makers, pushing utilization rates higher.
• Japanese makers like Murata and Taiyo Yuden remain cautious on pricing—their next move is the key signal to watch.

Table of Contents

1. SEMCO Leads Hikes for Quotes Received by OEMs and ODMs, Officially Initiating an Upward Pricing Cycle in the MLCC Industry
2. Strong Pull-In Momentum Related to NVIDIA’s GPUs and Google’s TPUs Has Tightened Supply for High-End MLCCs and Caused Hoarding to Spread into the Market for Consumer MLCCs
3. Suppliers’ Backlogs and BB Ratios Simultaneously Increase; SEMCO Has Raised Prices While Japanese Suppliers Hold, Thus Resulting in Capacity Utilization Surges and Price Hikes Among Suppliers Based in Taiwan and Mainland China
4. Trendforce's View 

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