Polysilicon：
Polysilicon prices continue to decline throughout the week. The mainstream concluded price for mono recharge polysilicon is RMB 67/KG, while mono dense polysilicon is priced at RMB 65/KG and N-type polysilicon is currently priced at RMB 70/KG.
The market transaction dynamics have taken a positive turn this week, leaving behind the gloom of the previous month. The reason behind this sudden shift is the influx of orders that many companies are scrambling to sign. Based on the final prices, the cost of new orders has decreased to varying degrees. In a twist of fate, the top manufacturers are managing to keep their prices steady due to factors like cost, production capacity, and quality. However, the same cannot be said for the second-tier manufacturers, as their prices are experiencing a noticeable decline. As a result of increased inventory, second-tier manufacturers are feeling the squeeze and are forced to lower their prices in order to boost shipments and keep production going. In a recent development, there has been a slight increase in the production of polysilicon compared to the previous month. Manufacturers of crystal pulling are poised to reduce production, leading to an ongoing surplus of polysilicon supply. In a stroke of luck, polysilicon manufacturers are finding themselves under less financial strain as the price of industrial silicon experiences a slight decline. Despite the overall positive outlook, some smaller manufacturers are still grappling with the challenges posed by the decline in polysilicon prices, which are now impacting their bottom lines. In addition, the prices of the downstream industrial chain have hit rock bottom, leaving some manufacturers in a precarious position where their product prices are actually lower than their costs. The surplus of polysilicon has put manufacturers in a tough spot, leaving them with little power to hold onto their prices. As a result, the price of polysilicon may continue its downward trend.
Wafer:
The prices of wafer have maintained stable throughout the week. The mainstream concluded price for M10 P-type wafer is RMB 2.30/Pc, while G12 P-type wafer is priced at RMB 3.30/Pc and M10 N-type is priced at RMB2.40/Pc.
In a recent update, wafer enterprises have been strategically reducing production to address their inventories. As a result, the current wafer inventory is gradually stabilizing within a reasonable range. As a result, manufacturers are experiencing reduced inventory pressure and the wafer price is receiving some support. The price of cells has plummeted, almost reaching a point lower than its original price. This has led to a significant inventory pressure that cannot be ignored. As a result, cell manufacturers are less inclined to buy the wafer and instead opt for a purchasing strategy based on their specific needs. In a recent development, the price of 210mm P-type wafer is showing signs of stabilizing, thanks to the orders that need to be delivered. However, the demand for 182mm P-type and N-type wafers remains uncertain for now. If the cell inventory remains high and the customer demand for those specific wafers is lackluster, it will be difficult for their prices to maintain stable.
Cell:
Cell prices have been different with the M10 cell price still declining and other types remaining stable this week. The mainstream concluded price for M10 cell is RMB 0.46/W, while G12 cell is priced at RMB 0.52/W. The price of M10 mono TOPCon cell is RMB 0.49/W.
On the supply side, cell prices have been steadily declining for weeks, gradually reaching the lowest point. As a result, some second-tier manufacturers are finding themselves in a predicament where their sale prices are lower than their cost. In a move to mitigate losses, they were compelled to make adjustments to their operating rate. Furthermore, an increasing number of manufacturers are set to boost the percentage of OEM, resulting in a fierce competition over OEM fees. Consequently, numerous OEMs have decided to reduce their fees in order to attract a greater number of orders. It’s quite a challenge for manufacturers to figure out how to maintain their operating rate and meager profits in this situation. It seems that this month will witness a slight decline in the operating rate and output among cell manufacturers. On the demand side, module manufacturers are still fulfilling orders for 210mm P-type modules, indicating a continued demand for 210mm cells. In addition, the demand for high-efficient N-type cells remains strong, ensuring that its output remains in demand and its prices remain stable. However, as the prices of the less efficient 182mm N-type cells and 182mm P-type cells have dipped below their production costs, the price of 182mm P-type cells is expected to experience significant pressure.
Module:
Module prices have gone down slightly throughout the week. The mainstream concluded price for 182mm facial mono PERC module is RMB 1.08/W, 210mm facial mono PERC module is priced at RMB 1.11/W, 182mm bifacial glass PERC module at RMB 1.09/W, and 210mm bifacial glass PERC module at RMB 1.12/W.
In terms of supply, there have been no changes in production schedules this month, and integrated module manufacturers have maintained stable operating rates thanks to consistent orders. But specialized module enterprises find themselves under constant pressure as the market prices of modules continue to plummet below their production costs. As a result, there are indications that they may be forced to reduce their production. In terms of demand, the domestic project is currently in the centralized delivery stage, which is expected to provide short-term price support. The upcoming traditional purchasing off-season has led to a strong desire among manufacturers in the industrial chain to destock, while overseas inventory remains sluggish. The backhaul of modules from overseas has only exacerbated the already dire situation of supply and demand. Excess modules causing frustration. This week, module prices hit rock bottom, but their cost continues to have strong support, keeping their prices steady. Attention must still be paid to the potential risks associated with the backhaul of modules.
PV Glass:
This week, PV glass prices goes down. The mainstream concluded price for 2.0mm glass is RMB 18.5/㎡, while 3.2mm glass is priced at RMB 27.5/㎡.
On the supply end, manufacturers of photovoltaic glass are set to continue their high supply levels. This month, there will be ignition ceremonies of the production lines. Obviously, as the supply of PV glass increases, so does the pressure on the supply. Module manufacturers are slashing their operating rates, leading to a gradual increase in the inventory of PV glass. This surge in supply is putting immense pressure on prices. Customer demand has failed to meet expectations, leading to a decrease in module prices. As a result, module manufacturers are now determined to push PV glass prices down. The prices of upstream soda ash have taken a tumble, resulting in a decrease in cost support for PV glass. Furthermore, with the surge in PV glass production, the industry is expected to grapple with mounting inventory challenges. In light of the current sluggish downstream demand, it is expected that the prices of PV glass will continue to decrease, although they have not reached their lowest point just yet.