MLCC Internal Benefit Transmission Speed and Elasticity Analysis (100% Objective) - Don't Just Focus on the Present, Look a Little Further

English summary

Let's jump to the conclusion first, with analysis to follow: The order of benefit propagation (from fast to slow, from trading to fundamentals): channel distributors/spot sellers → midstream MLCC manufacturers (finished products) → upstream materials (first nickel powder, then ceramic powder/release film/slurry) → equipment and production line supporting. Channels and manufacturers are the first to realize price increases and tight delivery times; the material side has a 1–2 quarter lag in price transmission, but the profit migration trend is certain and more sustainable. …