Price Overview
| Material | Current Price Range | WoW Change | Trend |
|---|---|---|---|
| PTFE Resin | Suspended medium-grain ¥41,000–45,500/ton; electronic grade >¥150,000/ton | 0% | Stable (structural divergence) |
| PEEK Resin | Domestic pure resin ¥320–380/kg; Victrex 450G trader spot ~¥230/kg | +0.8% | Firm to slightly up |
| Carbon Fiber | T300 12K ~¥80/kg; T700 12K ~¥135/kg | 0% | Value-recovery phase |
| PI Film | Electrical grade 25μm: uniaxial ¥130–170/kg, biaxial ¥190–220/kg | 0% | Stable |
| Specialty Ceramic Raw Materials | Calcined alumina ¥5,200–6,800/ton; AlN powder ¥280,000–320,000/ton | AlN +2%, alumina 0% | AlN rising, alumina stable |
Key Price Movements
- Aluminum Nitride Powder: +2% (AI thermal management in full shortage) — Communication-grade AlN powder has climbed to ¥280,000–320,000/ton. Rare-earth export controls have cut overseas top producers’ capacity by 25–30%, stretching delivery lead times beyond 24 weeks, with high-end substrate orders backlogged into late 2027. Demand from AI compute hardware (1.6T optical modules, HBM packaging, AI server thermal management) keeps growing structurally, accelerating domestic substitution.
- Carbon Fiber: Flat (value-recovery cycle continues) — T700 12K holds at ¥135/kg (tax-incl., ex-works) for two straight weeks; T300 12K ~¥80/kg. Acrylonitrile up 8–10% YoY provides firm cost support, while Zhongfu Shenying’s three new lines boost effective domestic supply. The industry is exiting its price war and entering a “value-return plus divergent pricing” cycle.
- PTFE: Flat (commodity weak, electronic strong) — Suspended medium-grain is range-bound at ¥41,000–43,000/ton with operating rates at 60–70% and ample spot supply; weaker R22 pricing erodes cost support. Electronic-grade PTFE, driven by AI compute infrastructure (high-frequency high-speed CCL), has broken ¥150,000/ton — the spread with commodity grades keeps widening.
- PEEK: +0.8% (humanoid-robot demand underpins pricing) — Domestic pure resin holds firm at ¥320–380/kg. Ningbo Huaxiang’s 12,000-ton integrated line has landed; at 5–7 kg per humanoid robot, every 1 million units adds 6,600–6,900 tons of demand.
- PI Film: Flat (electrical grade steady) — South-China electrical grade 25μm: uniaxial ¥130–170/kg, biaxial ¥190–220/kg, stable. Changsha Huafeng’s ¥360M electronic-grade PI project was publicly disclosed, accelerating high-end localization.
Impact Analysis
- On Procurement Costs: AlN substrate procurement faces the greatest cost pressure — overseas delivery delays may lift spot premiums by 10–15%. PTFE, carbon fiber and PI film cost structures remain stable with no systematic upward pressure.
- On Supply Chain: AlN overseas lead times now exceed 24 weeks — supply risk is concentrated in high-end electronic grades. PTFE/PI supply is loose; industrial-grade carbon fiber is ample while high-end small-tow stays tight.
Action Recommendations
- Lock in: Aluminum nitride powder (high-end electronic grades in structural shortage; secure volume and pricing during the domestic-substitution window)
- Lock in: Carbon fiber T700 and above (cost support + value recovery; prices likely to hold firm or rise short term)
- Watch: PTFE commodity grades (buyer’s market; restock in phases on dips)
- Procure as needed: PI film electrical grade and domestic PEEK resin (stable pricing; buy per production schedule)
Sources: 100ppi PTFE Channel (Oct 10 quotes), Fluorine Online (Oct 4), Mysteel, Longzhong Information (Oct 8), ChemicalBook (Oct 4–8), Eastmoney (Oct 5), CERADIR Advanced Ceramics Online.
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