Recently,the domestic semiconductor storage market has been sharply divided.As the mainstream of the market,the spot price of DDR4 memory experienced a deep downward adjustment in March.According to the latest market data,the spot price of DDR4 has dropped by more than 30%.Taking Samsung's 32GB capacity and 2266MHz specification as an example,its unit price directly dropped from a high of 2100 yuan to around 1320 yuan.The older generation of DDR3 memory is suffering from a waist cut,and the market is bleak.At the same time,overseas retailers were also not spared.The price of mainstream 32GB DDR5 suits dropped by nearly 30%in one month,and some models even experienced a rare situation in which they plunged more than 100 yuan in a single day.
 

In stark contrast to the coldness of the spot market,the contract end is a rising sound.In the first quarter of 2026,the contract price of DRAM soared by 90%to 95%month-on-month,and the price increase in the second quarter was basically locked,and it is expected to increase by about 30%.In the second quarter,the overall DRAM contract price will still increase by 58%to 63%month on month,and the NAND Flash contract price will increase by 70%to 75%quarter on quarter.This extreme differentiation of"spot falling and contract rising"has made many people in the industry unable to understand it.
 

North American head cloud manufacturers such as Google,Microsoft and Amazon are scrambling to sign long-term agreements with SK Hynix,some of which have been extended to the end of this decade.In order to lock in production capacity,these cloud vendors are even willing to pay a premium of 50%to 60%higher than that of mobile phone manufacturers.The logic behind it is not complicated-DDR 4 is still the main force of general memory,but its profit is far less than that of the emerging HBM(high bandwidth memory).It is estimated that the profit of HBM is more than 10 times that of DDR4.In order to seize the dividend of AI computing power explosion,the three storage giants have given priority to the allocation of advanced production capacity to HBM and server DDR5,resulting in a sharp reduction in the supply of ordinary DDR4 and mobile DRAM.
 

When the production capacity is tight,the price rises rapidly and the profits of manufacturers soar;After excessive production expansion and overstocking,prices will drop rapidly again.This time,the cycle superimposed the structural impact of AI demand,and there was a rare upside-down phenomenon-the price of DDR4 in some specifications was even more expensive than DDR5.For end users and channel providers,the current low price of DDR4 spot market may only be short-term fluctuations,and the long-term trend still depends on when the capacity allocation strategy of large manufacturers is adjusted.