Module Prices Show Upward Sentiment, Auxiliary Material Supply Also Tight [SMM Silicon-Based PV Morning Meeting Summary]

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SMM, February 6:

Solar Cell

Prices

High-efficiency PERC 182 solar cells (efficiency of 23.2% and above) were priced at 0.325-0.34 yuan/W; there were no transactions in the PERC 210 solar cell market. Prices remained stable after the holiday.

Topcon 183 solar cells (efficiency of 25% and above) were priced at approximately 0.285-0.295 yuan/W; Topcon 210RN solar cells at 0.28-0.285 yuan/W; and Topcon 210 solar cells at 0.285-0.295 yuan/W. Prices temporarily remained stable after the holiday.

Mainstream HJT 210 half-cell products were priced at 0.36-0.38 yuan/W. Prices temporarily remained stable after the holiday.

Production

Recently, some solar cell manufacturers gradually resumed operations. However, the impact on production was relatively small due to the initial adjustment phase, and most manufacturers maintained their operating rates.

Inventory

During the Chinese New Year holiday, solar cell inventory increased due to logistics disruptions. After logistics resumed, deliveries were concentrated but were mainly for pre-holiday orders, with few new orders.

Modules

Prices

In the current module market, mainstream transaction prices for centralized projects were as follows: PERC 182mm at 0.63-0.68 yuan/W, PERC 210mm at 0.64-0.69 yuan/W, N-type 182mm at 0.64-0.69 yuan/W, and N-type 210mm at 0.65-0.7 yuan/W. Module prices temporarily remained stable after the holiday, with companies showing sentiment for price increases.

Production

Module manufacturers gradually resumed operations, with overall February production schedules slightly down MoM. Many orders were accumulated for delivery in March.

Inventory

Due to low pickup volumes before and after the holiday, inventory slightly increased.

PV Film

Prices:

EVA/POE PV-Grade Materials:

PV-grade EVA was priced at 10,600-10,900 yuan/mt, while PV-grade POE was transacted at 12,000-14,000 yuan/mt.

PV Film:

Current mainstream prices for films were as follows: 420g transparent EVA film at 5.29-5.46 yuan/m², 420g white EVA film at 5.67-6.05 yuan/m², 380g EPE film at 5.79-5.89 yuan/m², and 380g POE film at 6.84-7.22 yuan/m².

Production

In January, the planned production of PV-grade EVA was approximately 1 million mt. In December, domestic PV film production was about 350 million m².

Inventory

Currently, the market is experiencing tight spot supply, with some petrochemical plants' February PV capacity already pre-sold.

Inverter

Prices

This week, inverter price ranges were as follows: 20kw at 0.12-0.16 yuan/W, 50kw at 0.11-0.15 yuan/W, 110kw at 0.1-0.14 yuan/W, and 320kw at 0.09-0.11 yuan/W. Inverter prices remained stable.

Supply and Demand

The supply side maintained stable and sufficient production, while procurement demand recovered. Large power string and centralized models saw higher shipment volumes.

Prices

3.2mm Single-Layer Coating: 3.2mm single-layer coated PV glass was quoted at 19.5-20.5 yuan/m², with prices remaining stable.

3.2mm Double-Layer Coating: 3.2mm double-layer coated PV glass was quoted at 20.5-21.5 yuan/m², with prices remaining stable.

2.0mm Single-Layer Coating: 2.0mm single-layer coated PV glass was quoted at 11.5-12.5 yuan/m², with prices remaining stable. Prices are expected to rise in the future.

2.0mm Double-Layer Coating: 2.0mm double-layer coated PV glass was quoted at 12.5-13.0 yuan/m², with prices remaining stable.

Production

During the Chinese New Year holiday, a 900 mt/day glass furnace in Central China underwent cold repair, while other glass furnace production lines operated normally.

Inventory

During the holiday, glass inventory levels increased due to normal furnace production. However, it is expected that module manufacturers will stockpile in anticipation of price increases, leading to a rapid decline in glass inventory post-holiday.