Tight DRAM Supply Gives Suppliers Greater Pricing Power in HBM, with HBM Contract Prices Expected to Surge Multiples Higher in 2027, Says TrendForce

Sharp increases in conventional DRAM prices since the second half of 2025 have reflected an increasingly tight supply-demand environment. However, the annual pricing mechanism adopted by the three major suppliers for HBM has prevented contract prices from fully reflecting quarterly market price increases in a timely manner, according to TrendForce’s latest research.