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92 PCB007 MAGAZINE I APRIL 2021 products in the past six months since July is about 11.22%, and that of thin copper is about 10.64%. According to the survey data, the highest price increases of CCL enterprises mainly oc- curred aer October last year, with PCB enter- prises increasing the price by 5–10%. Accord- ing to our calculations, the price increase rate could not cover the cost increase. One month later, some enterprises conducted a second round of price increases, with a range of 5–8%. Aer that round of price adjustment, some enterprises have been able to cover costs, and the gross profit rate has gradually risen. Over time, the cost of raw materials will grad- ually approach a price peak. According to the latest quotation of raw materials, the cost of thick plate has increased by about 22%, and the cost of thin plate has in- creased by about 20%. Assuming that the price of raw materials can re- main stable or increase, product costs will still rise in the short term, and over time, the aver- age increase will grow from 10% to more than 20%. erefore, on the basis of the current price increase of various manufacturers' products and the price trend of raw materials, we believe costs will continue to increase as much as 20% to ease some of the pressures on both sides. The price increase of thick plate is the highest; high-frequency high-speed plate is lower. Different products have different growth rates. According to the sur vey results, for the mainstream mainland manufacturers and Figure 5: The last round of CCL price increase cycle. (Source: Wind, Zhongtai Securities Research Institute)