PV "Self-Discipline" Meeting Reconvened: November Wafer Production Schedule Temporarily Adjusted Downward [SMM Analysis]

SMM, November 20: According to SMM, over 20 wafer companies held another online industry self-discipline meeting last week, aiming to coordinate production cuts to improve the current market environment.

It is understood that a leading crystal pulling company has once again led the way in reducing the November operating rate, lowering it from the initially planned 40% to around 30%. Along with adjustments from some smaller companies, the domestic wafer production in November is expected to fall below 40GW, with the operating rates of leading first- and second-tier companies generally maintaining around 30-40%.

As the operating rate decreases, the destocking effect of wafers becomes more evident. According to SMM statistics, the demand for wafers from solar cells in November is expected to reach approximately 53GW. Compared to the demand for solar cells, the supply of wafers is severely insufficient, showing a significant destocking effect. Additionally, as wafers are destocked, their prices have also shown some improvement. Currently, the transaction focus for 183mm wafers is shifting upward, with prices gradually approaching 1.03 yuan/piece.

Market feedback indicates that the impact of this meeting on the current production schedule is only part of the content. The main focus of the meeting was the preliminary estimation of the total demand for wafers in 2025, the allocation plan for production cuts among wafer companies.

It is understood that no consensus was reached on the "self-discipline" of the 2025 production schedule during this meeting, and wafer companies may hold offline meeting again in the near future.