The continuous declination for the prices of the polysilicon market during April has finally slowed down at the end of the month, which is primarily due to the relatively weak demand for domestic and overseas end markets, as well as the fact that some enterprises did not implement overhaul as planned. Under an overall sufficient supply of polysilicon, the prices will continue to decline.
Regarding the current market status, a number of enterprises are starting to implement overhaul in late April, and the reduction in the supply of silicon will slow down the price declination. Most enterprises are signing the orders for May this week, with most of them being monocrystalline silicons. Although enterprises are anticipating a persistence in price reduction, the degree of diminishment is expected to decelerate further. As for polysilicon, the order volumes remain insignificant due to the impact from weak downstream demand.
The MoM changes in the prices of the overall wafer market this week has dropped after several weeks of price shrinkage. As a minority of Chinese projects are beginning to initiate in May, together with the expected lifting of lockdown in India, as well as the positive outlook from the gradually recuperated demand in the European and American markets, the wafer prices have stopped declining under the anticipated slight increase in downstream PV cells. It is expected that the sales of wafer inventory will accelerate in May.
The market prices for PV cells have increased moderately as a result of the recuperated demand. With the commencement of domestic projects, as well as the minor inventory draw derived from 630, the ASP of high-efficiency mono-si PV cells (>21.7%) remains at 0.82RMB/pc. Due to the recent prices for PV cells approaching the cost price, the prices for PV cells are expected to increase once again next week under the invigoration of the demand, especially with the apparent increase of the order volume in May for first-tier manufacturers.
Under the anticipated ascension in domestic and overseas demand, the prices for photovoltaic modules this week are expected to stop falling. Large-scale projects have been successively initiated in the domestic market since late April, and the intensity in inventory restocking is expected to magnify beginning from May. In regard to the overseas market, several countries and regions have or are in the midst of adequately relaxing on the restrictions for traffic and logistics, where a recovery has been seen in the market demand under the economic reboot. The overall volume of module orders in May is expected to increase progressively, though the degree of price elevation will not be monumental after the bounce back.