Polysilicon output decreased further, and solar cell prices declined

Polysilicon

Prices: Yesterday, the mainstream prices for N-type polysilicon were 40-44 yuan/kg, dense polysilicon mainstream prices were 35-38 yuan/kg, and mixed package prices were as low as 34 yuan/kg. Currently, some traders are entering the market, purchasing small quantities at 40 yuan/kg.

Production: The reduction in polysilicon production is becoming more widespread. In June, four out of the top five manufacturers will have production line reductions, and more than five second- and third-tier companies will also reduce production lines.

Inventory: The growth rate of polysilicon inventory is noticeably dwindling, but it is important to note that compared to silicon wafer production in June, there is still a slight risk of polysilicon inventory accumulation.

Solar Cell

Price: The price of solar cells recently declined. The current price for high-efficiency PERC 182 solar cells (23.2% efficiency and above) is 0.30-0.31 yuan/W; PERC 210 solar cells are priced around 0.32-0.33 yuan/W; Topcon 182 solar cells (24.7% efficiency and above) are priced around 0.28-0.31 yuan/W; and Topcon 210RN solar cells are priced at 0.35-0.36 yuan/W.

Production: The operating rate of solar cell production will be reduced by the end of May. Some manufacturers reported that June orders are not as good as those in May, increasing the risk of solar cell inventory. The operating rate will continue to decrease in June.

Inventory: Some battery makers are entering the inventory clearance phase at the end of the month, and all N-type solar cells are being sold at a loss.

PV Film

Price

EVA for PV: The current domestic EVA for PV transactions have further decreased, and the price of PV-grade EVA should be consulted with analysts. The price of cable-grade EVA remains at 11,000-11,200 yuan/mt, while EVA for foaming continues to stay within the 10,800-11,000 yuan/mt range. POE for PV C4 temporarily remains at $2,550-2,650, and C8 temporarily remains at $2,650-2,750, with POE prices expected to adjust soon.

PV Film: The current mainstream price for 420g transparent EVA film is 6.51-6.72 yuan/sqm, 420g white EVA film is 7.35-7.56 yuan/sqm, 380g EPE film is 7.98-8.06 yuan/sqm, and 380g POE film is 10.18-10.45 yuan/sqm. Film prices are expected to adjust soon.

Production: This week, upstream granule enterprises are operating normally with average transactions. The gap between the intended transaction price of granules and the negotiating orders price of films has narrowed. Granule production continues, and film production remains stable.

Inventory: The current inventory of upstream enterprises needs to be assessed based on different companies. Film inventory is normal, film factory granule inventory has decreased, granule inventory has increased, and the production pace is temporarily stable. May production schedules may see a decrease, and PV module factory film inventory has decreased to some extent compared to the beginning of the month.

Inverter

Price: This week, the price range for 20kW inverters is 0.12-0.18 yuan/W, 50kW inverters is 0.12-0.17 yuan/W, and 110kW inverters is 0.11-0.16 yuan/W. The prices of inverters remained stable this week.

Supply and Demand: Driven by the demand for photovoltaics in countries such as the Middle East, Africa, and India, production supply has increased, and leading companies have full orders on hand. Domestic demand is stable, with the demand for centralized inverters increasing at a slower pace.