The prices of mono-grade polysilicon remained stable in the market this week. And the prices of multi polysilicon rose slightly. The Chinese polysilicon manufacturers were still in the middle of maintenance operations at the moment. And the supply was slightly tight. The polysilicon suppliers have tried to raise prices. However, they still could not successfully raise the overall market price.
There were fewer new orders for mono-grade polysilicon this week. The suppliers were mostly delivering the orders that were already in the pipelines. The quoted prices of the newly signed orders were also in line with the mainstream. Consequently, the prices of mono-grade polysilicon managed to be stabilized at RMB 55-58 /KG. The prices of multi polysilicon rebounded slightly. The main reason behind the rebound was the recovering demand in the Indian market, which increased the operating rate of the Chinese multi-Si wafer manufacturers. The prices of multi polysilicon rose slightly as a result. The demand was nevertheless not robust, prompting the average price to rebound to RMB 37 /KG.
The prices of most wafers have remained generally stable this week, with the exception of the slight fluctuations in the price of G1 mono-Si wafers. The new orders for mono-Si wafers were showing signs of decline, as the rush installation induced by the 630-deadline was nearing its end, coupled with the fact that the new manufacturing capacity of mono-Si wafers was becoming available.
The supply of mono-Si wafers has gradually been inching towards excess supply in the market at the moment. The quoted prices of some small and medium-sized enterprises remained stable on the surface while declining in effect. This phenomenon was nonetheless still limited to a small number of orders, which did not get to affect the overall price. Therefore, the average prices of G1 and M6 mono-Si wafers remained stable at RMB 2 /pc and RMB 2.55 /pc. The demand for multi-Si wafers recovered slightly, which had yet to cause the price to fluctuate in the short run. And the average price remained at RMB 1.18 /pc.
This week, the prices of PV cells remained stable. As the demand for multi-Si cells in overseas markets has begun to pick up recently, some companies were considering increasing their prices. However, this has not yet been reflected in the actual sale prices. The price range of multi-Si cells remained at RMB 0.51-0.48 /W this week, which was same as last week.
The mono-Si cells continued the same trend as last week. The top-tier companies have slightly increased the prices of a small number of rush orders. The sale price of G1 PV cells could be as high as RMB 0.84 /W, while the rest of quoted prices remained stable. At the moment, the average price of general mono-Si cells is RMB 0.710-0.760 /W. And the average price of M6 mono-Si cells is RMB 0.810 /W.
This week, module prices were still not improved with minor fluctuation in the lower price range. Regarding companies, the current top-tier manufacturers could still maintain a high operating rate. Hence, the price could be stabilized. On the other hand, second- and third-tier companies could only maintain a medium operating rate. They offer competitive prices to facilitate the deal. With the increasing demand for high-wattage modules in the market, the maturity of technology continued to drive the cost to new lows. Consequently, the prices of modules continued to decline, pushing the price of general multi-Si (275W-280W) modules to drop to RMB 1.34-1.4 /W. The low point of the superior high-efficiency mono-Si (>320W/385W) modules was revised down to RMB 1.55 /W. It is estimated that there will still be room for deduction in terms of subsequent quoted prices of the modules.
The non-Chinese markets, such as Southeast Asia and Japan, are generally stable at the moment. Europe’s postponed demand has gradually recovered after the production has resumed. Meanwhile, the declarations for China's photovoltaic auction project has ended. According to incomplete statistics in China, the declared projects have exceeded 30GW. The results of the review will be released within one month. Considering the majority of the auction projects is required to complete and connect to the grid by the end of the year, some of the demand is expected to emerge earlier than Q3. This will provide support for the downstream segment.
Note: Due to changes in market conditions, the quoted prices for high-efficiency mono-Si PV cells and superior high-efficiency mono-Si PV cells have been canceled. And the prices of G1 and M6 mono-Si PV cells have been added from June 17, 2020 onward.On June 25th, the prices across the supply chain will be released as usual. And the price trend commentary will be suspended for a week due to a public holiday.
(Analysis provided by Sharon Chen, analyst at EnergyTrend. Translated by Emma Hsu, translator of TrendForce Corp.)