Panel Price Stabilization
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CINNO Research:控产成效显现 10月面板价格有望逐步趋稳
Zhi Tong Cai Jing· 2025-10-10 12:05
Core Viewpoint - In September, brand manufacturers continued to stock up for the fourth quarter peak season, maintaining high demand for panels, leading to a stabilization in LCD TV panel prices as they approached a bottoming out phase [1][3]. Demand Side Summary - Brand manufacturers increased procurement significantly in the third quarter to prepare for the year-end peak season, resulting in sustained high demand for panels [3]. - The demand for LCD TV panels is expected to slow down as the stocking phase comes to an end, but promotional events like "Double Eleven" and "Black Friday" will provide some support for demand in October [1][3]. - The overall demand in October is projected to be stable, with most panel prices remaining flat compared to September, except for larger sizes which may face slight declines [4]. Supply Side Summary - In the third quarter, TV brands increased their orders, leading to an average production capacity utilization rate of high-generation lines rising to 82%, a nearly three percentage point increase [4]. - To respond to the anticipated demand adjustment, most panel manufacturers are expected to reduce their production capacity to below 80% in October [4]. - The price stability of LCD TV panels in October is supported by the manufacturers' production control strategies and the overall demand remaining stable [4].