P-type Polysilicon
This week, the prices of polysilicon remained relatively stable, with the mainstream concluded price for mono-Si compounding feedings at RMB 67/KG and mono-Si dense material at RMB 65/KG. We will provide the latest concluded price for N-type material on our website.
On the supply side, the price of polysilicon has affected production, leading some companies to suspend operations or undergo maintenance. However, new production capacity for polysilicon continues to increase, resulting in rising inventory levels. On the demand side, there haven't been as many concluded orders for polysilicon this week, as the market primarily focuses on fulfilling previous large orders. Only a small number of small concluded orders have been placed. Currently, P-type polysilicon prices have reached a bottom, but production costs continue to support the current price level, resulting in stability in the short term. Furthermore, with the gradual release of TOPCon production capacity, there is strong demand for N-type polysilicon in the market. Major pulling crystal plants have already placed orders for N-type silicon, leading to a slight rebound in its price. It is expected that the prices of N-type and P-type silicon will continue to diverge.
Wafers
During this week, there has been a slight decrease in wafer prices. The mainstream price for M10 wafers concluded at RMB 2.7/pc, while G12 wafers concluded at RMB 3.8/pc.
Regarding the supply side, the production schedules for wafers have increased and the expanding pulling crystal production leads to more production of wafers. Consequently, there has been a gradual rebound in wafer inventory. On the demand side, the demand for M10 wafers remains steady, with minor fluctuations in price. However, the customer base for G12 wafers is relatively limited, resulting in overall constrained demand. As a result, the bargaining power for G12 wafers is weak, leading to relatively higher price reductions. In the short term, it is expected that there will be an oversupply of silicon wafers, causing prices to experience a slight decline.
Cell
The prices of cells have remained unchanged compared to last week. M10 and G12 cells were concluded at RMB 0.71/W and RMB 0.74/W, respectively, while M10 mono-Si TOPCon cells saw a decrease to RMB 0.79/W. Currently, there is a balanced supply and demand for cells, and overall inventory levels remain normal. With upstream raw material prices stabilizing and active procurement demand from module enterprises, cell manufacturers have a strong willingness to maintain prices, resulting in stability for the time being. However, as customer demand increases significantly in the future, cell prices are expected to rise.
Modules
In terms of modules, there has been a reduced decrement in prices this week. The mainstream prices for 182mm and 210mm single-sided mono-Si PERC modules were concluded at RMB 1.33/W and RMB 1.35/W, respectively. The prices for 182mm and 210mm bifacial double-glass mono-Si PERC modules were concluded at RMB 1.35/W and RMB 1.37/W, respectively.
Due to intense competition among module enterprises, the bidding prices have reached record lows, with some falling below RMB 1.2/W. Major module factories are waiting for stabilized industry chain prices, and the overall work rate has not significantly improved. On the demand side, customers are still in a waiting phase, resulting in no further improvement in procurement volume. It is expected that module prices will experience a slight decline in the short term. As the price of the industry chain further stabilizes, the demand of the customer end is expected to revive in late July.
As for auxiliary materials, glass prices have remained stable this week, with 3.2mm and 2.0mm glass priced at RMB 25.5/㎡ and RMB 18/㎡, respectively. Although new production lines have been put into operation, ensuring adequate supply of photovoltaic glass, module orders are primarily based on on-demand procurement, leading to no significant increase in order volume and maintaining stable prices.