面板厂强力控产成关键 1月TV面板价格全面调涨

Core Viewpoint - The global TV panel market is entering a new phase of structural adjustment on both supply and demand sides, with proactive supply-side contraction effectively countering the cyclical decline in brand procurement demand, leading to initial signs of price stabilization and recovery [1][3]. Supply Side - Panel manufacturers are adopting a dual strategy to respond to demand fluctuations: maintaining high capacity utilization to meet short-term concentrated orders while also implementing production control in response to traditional seasonal downturns, with the current production control efforts expected to exceed previous holiday adjustments [3][4]. - In December, the global high-generation line average utilization rate reached 82.4%, with the G10.5 generation line exceeding 90%, showing a significant year-on-year increase [3]. Demand Side - Brand procurement strategies are shifting from aggressive stocking to inventory digestion, resulting in a sequential decline in overall procurement scale, influenced by the conclusion of major sports event stocking cycles and seasonal slowdowns due to the Chinese New Year [1][3]. - Despite rising storage chip prices and export tax rebate policies providing some support, overall demand is experiencing seasonal contraction [1]. Price Trends - The 32-inch panel market is seeing balanced supply and demand, with December's average price stable and a slight expected increase of $1 in January; similar trends are observed for 50-inch and 55-inch panels, with prices expected to rise modestly [4]. - The large-size panel market is improving due to significant production control on the G10.5 generation line, with December prices stable and a forecasted mild increase in January [4]. Market Outlook - The current TV panel market is transitioning from a "demand-driven" model to one of "supply adjustment," with manufacturers' precise capacity control smoothing seasonal fluctuations and promoting a gradual recovery of the price system, laying a more rational foundation for the industry's future healthy development [4].