Update 10th May: All the 3 Vendors - WD, Seagate, and Toshiba have increased the prices, and the weekly hard drive allocations we used to get in hundreds are in tens now. Priority off course is to integrate the allocations with QNAP, Synology, and Asustor to provide a full Storage Solution.
Though we had been warned of an impending hard drive shortage on account of the Shortage of Integrated Circuits, we never anticipated the kind of shortage we saw this week. Traders, literally in hoards are emailing - not only from UAE but from across the globe looking for thousands of drives in 10TB+ Capacity.
Chia Miners in China buying the hard drives seems to be true since we have been approached by many Chinese companies, inquiring about the drives. On one hand, you have the supply constrain, and on the other hand, you have the hoarders of large-capacity drives, which make the situation even worse.
For an integrator like us, Hard drives are a component of a broader solution. For a trader, a hard drive is a stand-alone SKU that can be sold and generate a profit of its own, and this is not a time for trading.
The only prudent thing to do right now is to not trade any hard drives and keep stocks for integration, HDDs are essential for your storage solutions so you need to have some buffer
So far, none of the vendors have increased the price, but given the scarcity, prices will surely go up. Our allocations are getting canceled and new allocations are difficult to get. So far this effect is only limited to Hard drives, but soon we may find even the other products and solutions go under shortage; thunderbolt3 storage units which use Hard drives for instance may go into shortage.