​PCB Market ，copper-clad Plate And Other Materials in Market Recently

 In fact, due to the effect of upstream materials rise in price, PCB enterprise performance under pressure, since a long time and difficult. Over time, entering the fourth quarter, the upstream raw material prices rise.

Copper clad rhythm slow rise in price

Raw material sort is more, as we all know, the PCB for production of copper clad (CCL) accounted for the highest cost, in the cost of CCL, glass fiber cloth, copper foil, epoxy resin combined account for more than 70%.

According to the statistical data, Primark copper clad accounted for about 30% of the cost of PCB, the manufacturing cost and direct labor accounts for about 20%. Copper clad in cost, because of the copper clad sheet thick, slightly different raw material cost share, the whole, glass fiber cloth (25% - 40%, resin costs accounted for 25% ~ 30%, copper foil accounted for 30% ~ 50%.

Needless to say, copper clad continues to rise in price is the main source of circuit board factory cost pressures.

A securities analyst pointed out that copper clad increase in the first quarter of this year by 20% in the second quarter in the first two months continue to increase our price by 30%, part of the thick plate prices rise more, basic is doubled, sheet has a gain of 30% to 50%.

And PCB enterprise cost on relative lag, cause its quarterly results more damage, and the dosage of copper more hard board the car hard board companies, in particular, most affected profitability (because the car hard with thick copper, negotiation and order cycle is long, slow to pass on to communication and consumer electronics).

After entering 3 quarter of 2021, the prices of the slowdown in the pace of the copper clad manufacturers, only a few vendors on the part of the product price slightly increases. Professionals are expected as the upstream raw material prices gradually stabilising and copper clad the release of production capacity, the price of copper clad gradually stabilising.

Western securities analyst LuoYaMei after prompt, upstream copper clad manufacturers since the second half of 2020 has been transferred to the PCB cost pressures will most vendors, continue to increase power co., LTD.

But for copper clad follow-up whether there will be rise in price, also have a securities analyst, said: "in the fourth quarter of PCB cost pressure is still on, for will rise in price is not sure now, don't recommend preset CCL cost significantly improve ahead of time." 

Copper prices stabilised + new capacity price of copper foil is released or it is loose

Copper foil directly and indirectly accounted for 22% of the total cost of the PCB copper foil industry "copper + processing fee" pricing model, part of the PCB copper foil is the main raw material of cathode copper, corresponding more upstream of the spot copper price, the other part is the processing fee. Among them, the copper purchasing cost accounts for about 77% of the total cost of the copper foil, as the main factors causing the price of copper foil.

The current copper price is still more than $9000 / ton, but the overall showed a sharp rise again. Imports from China PCB used copper prices, after a small change in the price also gradually stabilized. They expect in the future as the supply-side capacity gradually release, the price of copper will gradually stabilized.

Market demand, copper foil in short supply due to outbreaks of lithium electricity demand, the high cost of new li-ion battery copper foil production line, and therefore part of the copper foil manufacturers to increase profits through the initiative to adjust the product structure, utilization of capacity flexibility, the original standard copper foil copper foil production line to produce lithium electricity, the supply of standard copper foil corresponding decreases, and copper clad growing demand, supply and demand More and more nervous.With the enterprise order to buoyant, toll fee increases. According to SMM Shanghai non-ferrous metal mesh, 8 October 2021 um lithium electricity copper foil processing fee of about 36300 yuan/ton, 6 ym copper foil processing fee is 46300 yuan/ton, due to the downstream market demand, copper foil processing fee is still in the rising trend.But according to the industry chain research, some copper foil companies such as the China science and technology, has TongGuan copper foil expansion plans, copper foil after q3 2021 vendors will have standard copper foil investment in new capacity, 2021 Q4 will be released in full, and as the copper price stability, price of copper foil is expected in 2021 years will be eased.

Epoxy resin production cost or slowOf this year, the cost of upward, double energy consumption control and power shortage and other factors such as the limited supply of factors jointly promote, chemical price index rising to nearly + year high, most of the chemical products prices at record highs and even a record high.But since late in the fourth quarter, represented by the coal, natural gas energy prices dropped sharply, supply power brownouts restricting output effect is abate, sluggish capacity expansion and has intensified, with the decline in coal prices ease, cost pressures upstream chemical products prices soared.

It is reported that the epoxy chloropropane quoted price 17666 yuan/ton, compared with the previous week fell 1315 yuan/ton, bisphenol A quoted price 16350 yuan/ton, compared with the previous week fell 1599 yuan/ton.East China a petrochemical auction 15500 yuan/ton, the market offer sharply lower, the intention to offer near to 16000 yuan/ton, firm order or still have to talk about space.With epoxy chloropropane by moderating and bisphenol A price shock slump, epoxy resin production cost or slow. On November 16, huangshan solid epoxy resin weaker market operation, the local new single mainstream negotiate prices in 24500-25000 yuan/ton. On November 17, liquid epoxy resin in east China market weakening by about 500 yuan/ton, negotiating the offer in 29500-30500 yuan/ton barrel factory.Electronic glass fiber cloth is expected to gradually return to a reasonable levelRecovered well after 2021, benefit from the domestic epidemic, wind power, new energy, household appliances and other industries demand, glass fiber industry fundamentals continue to improve.

According to zhuo and information, electronic yarn G75 market prices in July 2020 the actual clinch a deal in 7800-7900 yuan/ton, part of the high-end product price is higher; The mainstream electronic cloth quotation at about 3.2 yuan/m. As the tension between supply and demand, glass fiber prices rising, as of July 2021, to an average of 17000 yuan/ton, G75 electronic yarn has risen about 115%; Electronic cloth mainstream quotation 8.7 8.8 yuan/m, individual small price to 9.0 yuan/m, up 175%.But each enterprise expansion will strongly driven by high profits, according to the company's website, 2021-2022, macros and new electronic science and technology, China stone, taishan fiberglass yarn nine for 22-250000 tons of production capacity. The long term, glass fiber yarn prices are expected to drive the electronic cloth gradually return to a reasonable level.

PCBS downstream demand picks upDownstream demand, 5 g base stations full-year target for 600000, but only complete the full-year target of 31% during the first half, base station less than expected, lead to PCB company performance under pressure. But domestic operators 5 g base stations in has 6 or 7 months were launched in 2021, order dense fall to the ground, in the second half of the 5 g construction pace is gradually accelerated, the boom of PCB industry chain upstream picks up.

Based on forward-looking industry institute estimates, domestic 5 g base station market space the size of the market in 2020-22 years will continue to go higher, 2022 will reach 198 billion yuan,In the domestic market, it is assumed that the domestic number 5 g acer station is about 1.2 1.5 times that of the 4 g base stations, 5 g acer total station is expected to exceed 5 million, micro base station is expected to exceed 10 million. According to estimates, domestic output of about 108 billion yuan, 5 g base station PCB is 5 g base station PCB still have four to five times more space.Server field also significantly better in the market.Server industry are greatly influenced by upstream CPU updates to generation, as Intel and AMD launched intensive Ice Lake, Sapphire cedar Rapids, MilanGenoa CPU, such as stimulating enterprise iteration to replace the client server, server to further improve the boom of PCB industry. Platform upgrades the corresponding PCB material after the layer number of + + process complexity increases, a single terminal value is expected to increase. According to measure, in 2024 is expected to service the size of the market for PCB for $80, 2020-24 years CAGR of about + 10.79%In addition, new energy vehicles become another incremental factor.Way after the outbreak of the boom of automobile, new energy vehicles quickly recover, according to the Marklines and SNE Research data, the global electric vehicle sales of 2021 or 5.6 million units. And automobile electric current, the intelligent trend obviously, this will drive the car abandoned PCB quantity price rise.

According to CICC International Consulting, the average PCB consumption of each traditional car is about 1 square meter, mainly 2-6 layers of boards, worth about $60. The PCB value of new energy smart car is about 5 times that of traditional car. The gradual penetration of new energy intelligent vehicles will bring an incremental space of $2-3.2 billion for global automotive PCBS.According to Prismark, the global automotive PCB output was $6.2 billion in 2020 and is expected to grow at a 9.0% CAGR during 2020-24, reaching $8.7 billion by 2024.