China's largest CCL supplier just raised prices again — seventh increase this year. The AI server supply chain remains tight on glass cloth and copper foil.
Kingboard notified customers August 28: FR-4 up another 10%. Thin prepreg up 20%. Thick cloth (7628+) up 10%.
This Q3 push is stronger than sell-side models anticipated. What began as a raw-material cost story in late 2025 is now a pure capacity constraint in 2026.
Nan Ya has been lifting prices across foil, cloth, and laminate all year. Because it operates vertically across resin, cloth, foil, and CCL, the Street reads those moves as the industry tell.
Iteq's second-half increases on M6-and-below grades — over 90% of sales — have been revised from 10–15% per quarter to 15–20%. Q2 prices were already up ~30% across the board. Gross margin jumped from 11.42% to 22.02%. EPS came in at NT$3.52.
Elite Material and TUC are closer to AI server grades. As platforms migrate from M7/M8 toward M9, low-loss cloth and HVLP foil remain structurally tight.
CCL is a meaningful slice of PCB cost. Repeated hikes will flow through to board makers first, then cascade into phones, networking gear, and autos.
What started as a high-end AI laminate shortage is now setting the price floor for the entire stack.
Kingboard notified customers August 28: FR-4 up another 10%. Thin prepreg up 20%. Thick cloth (7628+) up 10%.
This Q3 push is stronger than sell-side models anticipated. What began as a raw-material cost story in late 2025 is now a pure capacity constraint in 2026.
Nan Ya has been lifting prices across foil, cloth, and laminate all year. Because it operates vertically across resin, cloth, foil, and CCL, the Street reads those moves as the industry tell.
Iteq's second-half increases on M6-and-below grades — over 90% of sales — have been revised from 10–15% per quarter to 15–20%. Q2 prices were already up ~30% across the board. Gross margin jumped from 11.42% to 22.02%. EPS came in at NT$3.52.
Elite Material and TUC are closer to AI server grades. As platforms migrate from M7/M8 toward M9, low-loss cloth and HVLP foil remain structurally tight.
CCL is a meaningful slice of PCB cost. Repeated hikes will flow through to board makers first, then cascade into phones, networking gear, and autos.
What started as a high-end AI laminate shortage is now setting the price floor for the entire stack.
