By Kate Yuan

(JW Insights) May 10 -- Chinese TV manufacturers are gearing up for China’s June 18 (618) shopping festival and procuring panels in bulk, driving the price hike from panel manufacturers against the backdrop of easing inventory pressure, according to a Nikkei report.

The bulk trading price of LCD panels for televisions has risen further, with prices increasing 3% to 8% month-on-month in April. The prices may continue to rise in May while the increase rate may slow down, US research company DSCC said.

Bulk trading price is determined monthly by Asian panel manufacturers as sellers and TV suppliers as buyers.

Panel manufacturers are also increasing the production line utilization rate of TV LCD panels. Data from DSCC shows that the utilization rate in April is expected to reach 88%, a surge from 74% in January, according to the Nikkei report translated into Chinese.