[SMM PV Flash] Xinjiang's 2027 Mechanism Electricity Price Bidding Announcement: PV 0.259 yuan/kWh

[SMM Analysis: 2026 H1 PV Resin Market Review and Outlook – Prices Retreat After Geopolitical Spike, H2 Faces Supply-Demand Tug-of-War] In H1 2026, PV-grade EVA resin prices completed a full cycle of “low-level consolidation—pulse spike—consolidation at highs—accelerated decline—hitting bottom and stabilising,” with a fluctuation range exceeding 50%. POE resin, based on different supply-demand fundamentals and localisation progress, showed significant divergence from EVA in fluctuation magnitude and recovery pace.

In H1 2026, TOPCon solar cell prices drifted lower, with mainstream specifications recording a cumulative decline of about 35%-39%, and the decline accelerated to hit bottom after June. On the production side, output was actively reduced; although the production schedule rebounded in June, demand follow-up was insufficient, inventory pressure intensified, and the structural surplus remained evident. On the export side, rush shipments surged in March before the tax rebate cancellation, then pulled back markedly in April-May, but cumulative exports still increased YoY, reflecting resilient overseas demand. H2 prices are expected to stabilize and rebound in stages after inventory buildup peaks. High-efficiency capacity will benefit from the exit of low-efficiency capacity, and the importance of enterprises’ go-global strategies will further rise.