Glass Cold Repair Scale Surges, Module Inventory Pressure Eases [SMM Silicon-Based PV Morning Meeting Summary]

》View SMM Silicon Product Prices

》Subscribe to View Historical Price Trends of SMM Metal Spot

》Click to View SMM Metal Industry Chain Database

SMM January 9 News:

Solar Cell

Prices

High-efficiency PERC 182 solar cells (efficiency of 23.2% and above) are priced at 0.31 yuan/W; there is no trading volume in the PERC 210 solar cell market.

Topcon 183 solar cells (efficiency of 25% and above) are priced at approximately 0.285-0.295 yuan/W; Topcon 210RN solar cells at 0.285-0.29 yuan/W; and Topcon 210 solar cells at 0.285-0.295 yuan/W. With the rise in silicon wafer prices, battery costs are under significant pressure, leading to a rapid increase in battery prices. Downstream module manufacturers show weak acceptance of high prices, but leading specialized battery manufacturers maintain a firm stance on price increases.

Mainstream HJT 210 half-cell products are priced at 0.36-0.38 yuan/W. Due to a lack of transactions, HJT battery prices remain stable for now, but there is an upward expectation for next month.

Production

Recently, some battery production bases with Chinese New Year break plans have started to shut down. HJT production cuts and suspensions are faster than those of Topcon batteries, while BC cell production remains relatively stable.

Inventory

Leading battery manufacturers have low inventory levels, and with production cut plans in place, inventory is expected to decrease further this month.

Modules

Prices

In the current module market, mainstream transaction prices for centralized projects are 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. The mainstream price range remains stable. During the off-season, some companies have lowered transaction prices.

Production

With the arrival of the Q1 off-season, companies are producing based on sales and focusing on selling inventory. Recently, some companies have continued to reduce operating rates or shut down production lines. January's actual production is expected to decline further compared to forecasts.

Inventory

Days of inventories remain at a medium level, and year-end inventory pressure has significantly eased compared to earlier periods.

PV Film

Prices:

EVA/POE PV Materials:

PV-grade EVA is currently priced at 10,400-10,700 yuan/mt, while PV-grade POE is traded at 12,000-14,000 yuan/mt.

PV Film:

The current mainstream price for 420g transparent EVA film is 5.29-5.46 yuan/m², for 420g white EVA film is 5.67-6.05 yuan/m², for 380g EPE film is 5.79-5.89 yuan/m², and for 380g POE film is 6.84-7.22 yuan/m².

Production

In January, the planned production of PV-grade EVA is approximately 100,000 mt. In December, domestic PV film production was about 350 million m².

Inventory

Due to reduced module production, demand for PV film and EVA has decreased. However, due to stockpiling for the Chinese New Year, the inventory buildup of PV-grade EVA is limited.

Inverter

Prices

This week, inverter prices are 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 remain stable.

Supply and Demand

On the supply side, production is stable and sufficient. Overall demand remains mediocre, with large power string and centralized models seeing higher shipments.

Prices

3.2mm Single-Layer Coating: The price of 3.2mm single-layer coated PV glass is 19.5-20.5 yuan/m², remaining stable.

3.2mm Double-Layer Coating: The price of 3.2mm double-layer coated PV glass is 20.5-21.5 yuan/m², remaining stable.

2.0mm Single-Layer Coating: The price of 2.0mm single-layer coated PV glass is 11.5-12.5 yuan/m², remaining stable, while the mainstream transaction price of back glass has risen to 10 yuan/m².

2.0mm Double-Layer Coating: The price of 2.0mm double-layer coated PV glass is 12.5-13.0 yuan/m², remaining stable.

Production

In January, a total of 2,800 mt/day of domestic kilns underwent cold repair, and an additional 1,650 mt/day of kilns were shut down for maintenance, leading to a significant reduction in supply. Further kiln cold repair plans are expected.

Inventory

In terms of inventory, current glass inventory changes are minimal. In January, some module companies began stockpiling, and trading volume is expected to increase compared to production schedules.