Nan Ya Plastics Corp

Three major copper-clad laminate producers have raised prices in succession, driving PCB-related stocks to strengthen against the market trend. At the end of August, Kingboard Laminates issued its seventh price increase letter this year, raising FR-4 copper-clad laminate prices by 10 percent across the board, adjusting prepreg prices by specification, and raising thin fabric prices by up to 20 percent. Panasonic then announced it would raise copper-clad laminate prices from September 1, with some products up by as much as 30 percent, and Nan Ya Plastics followed with increases of 20 to 25 percent. Boosted by this, Goldenmax International surged to its daily limit up, closing the morning session at 76.45 yuan, with more than 180,000 lots locked on the limit-up board, turnover exceeding 3.7 billion yuan, and a total market value of 55.6 billion yuan. Yihao New Materials rose by the 20 percent daily limit, GD-Goworld posted a strong run of two limit-up moves in four sessions, and Sihui Fushi, Sdic, and Wanyuan Tong rose more than 10 percent, while China Jushi and Founder Technology also advanced. According to a China Securities Journal report on September 9, several electronic fabric companies and downstream copper-clad laminate producers said the market has shown relatively good acceptance of the new round of price increases, that electronic fabric supply is somewhat tight, and that leading companies are actively expanding capacity, with new projects expected to come on stream this year and next, at which point price trends will need further market confirmation.