Memory 'Super Price Surge' Continues! DDR4 and NAND Prices Hit New Highs in July

Traditional DRAM and NAND flash memory prices both hit new highs in July. As artificial intelligence (AI) servers and high-bandwidth memory (HBM) continue to absorb DRAM production capacity, and memory manufacturers redirect NAND resources toward enterprise SSDs, high-layer 3D NAND, and advanced processes, supply of traditional memory used in PCs, consumer electronics, and industrial equipment is becoming increasingly tight, and the price increase cycle is not yet over.

According to data from DRAMeXchange, a subsidiary of TrendForce, cited by Yonhap News, the average fixed contract price for the benchmark PC-use DDR4 8Gb DRAM rose to $24 in July, up 14.3% from June, marking the highest level since the agency began tracking data in June 2016.

NAND flash memory prices also continued to climb. The average price for 128Gb MLC NAND rose to $30.05 in July, surpassing $30 for the first time and setting a new historical record.

DDR4 prices have accelerated their rise since the beginning of the year. The average contract price for DDR4 8Gb climbed from $11.50 in January to $24 in July, representing a cumulative increase of approximately 109%—nearly doubling in just over half a year. Prices surged rapidly from $16 to $20 between April and May, and further hit new highs as the third quarter began.

The price surge in NAND has been even more intense. The average price for 128Gb MLC NAND rose from $9.46 in January to $30.05 in July, a year-to-date increase of about 218%. Current prices are now more than three times higher than at the beginning of the year.

Price increases across different types of NAND products have also diverged significantly.

Supply of single-level cell (SLC) NAND is particularly tight, with average selling prices for some products rising 35% to 51% month-on-month in July. In contrast, multi-level cell (MLC) NAND saw price increases of only about 4% to 8%.

SLC NAND is primarily used in automotive electronics, networking equipment, and industrial control systems—areas that prioritize stability and durability. As memory suppliers prioritize capacity for high-layer 3D NAND and advanced processes, combined with low market inventory, the supply-demand situation for SLC NAND has become even tighter, resulting in price increases significantly higher than those for MLC products.

This round of price increases in traditional memory is primarily driven by a reallocation of supply-side capacity.

With the rapid growth in demand for AI servers, DRAM suppliers are continuously shifting resources toward higher-margin products such as HBM and server DRAM, reducing production capacity available for traditional DRAM used in PCs and consumer electronics.

TrendForce forecasts that AI servers and HBM will continue to absorb significant DRAM capacity in the future, leading to further tightening of PC DRAM supply. Although rising notebook prices have begun to dampen end-user demand, memory suppliers still hold a strong negotiating position due to limited supply, and DRAM shortages could persist until 2027.

The NAND market is also facing similar capacity displacement effects. Suppliers are allocating more resources to enterprise SSDs, high-layer 3D NAND, and advanced processes, keeping supply of traditional NAND products tight. However, TrendForce expects NAND supply to gradually improve starting in the second half of 2027 as suppliers incrementally increase output.

Notably, after more than a year of continuous memory price increases, downstream customers' procurement costs have risen significantly, and buyer sentiment is beginning to turn cautious. This means that supply tightness will continue to support prices in the short term, but the sustainability of future price hikes will depend on end markets' ability to absorb rising costs.