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Wafer Prices Increase Slightly; Competition of Module Enterprise Will Soon Heat Up

published: 2023-08-03 14:27

Polysilicon prices have maintained stability throughout the week. The mainstream concluded price for mono recharge polysilicon is RMB 70/KG, while mono dense polysilicon is priced at RMB 68/KG. N-type polysilicon is currently priced at RMB 78/KG.
The electricity restrictions in regions like Leshan and Inner Mongolia have further impacted the output of some polysilicon enterprises. In addition, part of the polysilicon enterprise is still in overhaul and part of new production capacity has been delayed, leading to lower polysilicon inventory. On the demand side, the wafer enterprises are more active in purchasing the polysilicon, which supports the polysilicon prices to some extent. In August, as the scheduling production of wafer rises, it is expected that in the short term polysilicon prices can increase slightly.

The prices of wafer have increased slightly throughout the week. The mainstream concluded price for M10 wafer is RMB 2.95/Pc, while G12 wafer is priced at RMB 3.9/Pc, an increase of 5.36% and 5.63%, respectively.
On the supply side, wafer manufacturers have been consistently operating at high capacity. However, power restrictions have impacted the actual output of certain wafer enterprises. On the demand side, downstream cell enterprises are experiencing a surge in cell purchases, resulting in a significant improvement in order volumes of wafers. Recently, leading enterprises have raised wafer prices, and the downstream customers have shown greater acceptance of these higher prices, providing support for a slight increase in the overall wafer price.

Cell prices have experienced slight fluctuations this week. The mainstream concluded price for M10 cell is RMB 0.75/W, while G12 cell is priced at RMB 0.74/W. The price of M10 mono TOPCon cell is RMB 0.8/W.
On the supply side, cell manufacturers are consistently operating at full capacity. On the demand side, downstream module enterprises have significantly increased their production schedules and are experiencing robust demand for purchasing cells. The supply of M10 and G12 cells is slightly tight, resulting in a slight price increase for these models. Meanwhile, TOPCon cell prices are currently stable. As the peak season of installation in the third quarter is approaching, it is anticipated that cell prices will continue to experience a gradual increase.

Module prices continue to drop slightly this week. The mainstream concluded price for 182mm facial mono PERC module is RMB 1.28/W, 210mm facial mono PERC module is priced at RMB 1.3/W, 182mm bifacial glass PERC module at RMB 1.3/W, and 210mm bifacial glass PERC module at RMB 1.32/W.
Recent bidding prices indicate intense price competition among module enterprises, with major manufacturers displaying a strong willingness to secure orders at low prices. The first-tier enterprises are offering the lowest bidding prices, with P-type modules priced at RMB 1.168/W and N-type modules at RMB 1.262/W. On the supply side, module enterprises have significantly increased their production schedules, leading to an overall higher inventory level. On the demand side, there has not been a significant boost in customer demand, resulting in an ongoing negotiation between module suppliers and customers. As a result, it is expected that module prices will experience a slight drop in the short term.

Auxiliary materials

This week, PV glass prices continue to stay stable. The mainstream concluded price for 3.2mm glass is RMB 25.5/㎡, while 2.0mm glass is priced at RMB 18/㎡.
In August, module enterprises have significantly improved their production schedules, and there has been an increase in orders for PV glass compared to the previous period. As a result, inventories have decreased to varying degrees. Therefore, it is expected that photovoltaic glass prices will remain stable in the short term.

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