SEOUL, Aug. 3 (Yonhap) -- The average prices of conventional dynamic random-access memory (DRAM) and NAND flash products reached monthly record highs in July, driven by robust demand for artificial intelligence (AI), industry data showed Monday.

According to data from industry tracker DRAMeXchange, the average fixed contract price of the benchmark DRAM products for PCs rose 14.3 percent from the previous month to US$24, marking the highest level since the tracker began compiling the data in June 2016.

NAND flash prices also continued to climb, with the average price of benchmark products surpassing the $30 mark last month, the data showed.

The sharp gains were led by single-level cell NAND products, whose average selling prices jumped 35 percent to 51 percent from the previous month as memory suppliers prioritized production capacity for high-layer 3D NAND and advanced manufacturing processes amid AI-related demand.

In contrast, price increases for multi-level cell NAND products were limited to around 4 percent to 8 percent, as customers became more cautious about rising costs following steep price increases over the past year.

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