Module Prices Rise as Solar Cell Supply Steadily Increases [SMM Silicon-Based PV Morning Brief]

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SMM, February 20:

Solar Cell

Prices

High-efficiency PERC 182 solar cells (efficiency of 23.2% and above) were priced at 0.325-0.33 yuan/W, with a slight decline in high-end prices; there were no transactions in the PERC 210 solar cell market.

Topcon 183 solar cells (efficiency of 25% and above) were priced at approximately 0.285-0.29 yuan/W, with a slight decline in high-end prices; Topcon 210RN solar cells were priced at 0.28-0.29 yuan/W, showing an upward trend; Topcon 210 solar cells were priced at 0.285-0.29 yuan/W, with a slight decline in prices.

Mainstream HJT 210 half-cell products were priced at 0.36-0.38 yuan/W, with prices remaining stable.

Production

The number of solar cell manufacturers resuming production increased, leading to higher output. The operating rate in February was higher than in January.

Inventory

Solar cells were shipped normally recently, resulting in a decrease in inventory.

Modules

Prices

In the current module market, the mainstream transaction prices for centralized projects were 0.63-0.68 yuan/W for PERC 182mm, 0.64-0.69 yuan/W for PERC 210mm, 0.64-0.66 yuan/W for N-type 182mm, and 0.64-0.66 yuan/W for N-type 210mm. Some Topcon distributed sellers raised prices by 0.01 yuan.

Production

Overall, February's production schedule saw a slight MoM decline, with many orders deferred to March for delivery.

Inventory

Currently, market demand is weak, with distributed projects supporting most shipments, leading to a slight inventory buildup.

PV Film

Prices:

EVA/POE PV-Grade Materials:

PV-grade EVA was priced at 11,200-11,500 yuan/mt, while PV-grade POE was transacted at 12,000-14,000 yuan/mt.

PV Film:

The current mainstream prices for 420g transparent EVA film were 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

The planned production of PV-grade EVA in February was approximately 1.1 million mt. The domestic planned production of PV film in February was approximately 330 million m².

Inventory

Currently, petrochemical plant inventories are relatively low, with most PV-grade materials produced being allocated to pre-ordered deliveries. Spot supply remains tight, with many maintenance plans in place, and inventory levels are expected to remain low.

Inverter

Prices

This week's inverter price ranges were 0.12-0.16 yuan/W for 20kW, 0.11-0.15 yuan/W for 50kW, 0.1-0.14 yuan/W for 110kW, and 0.09-0.11 yuan/W for 320kW. Inverter prices remained stable.

Supply and Demand

The supply side maintained stable and sufficient production, while procurement demand gradually recovered. Large-power string and centralized models saw higher shipments, and a rush for installations in March may drive inverter shipments.

Prices

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

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

2.0mm Single-Layer Coating: The price of 2.0mm single-layer coated PV glass was 11.5-12.5 yuan/m², with prices remaining stable.

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

Production

This week, the first batch of domestic kiln lines resumed production, involving a capacity of nearly 2,000 mt/day. As the market improves, the glass supply chain is expected to continue increasing.

Inventory

This week, domestic glass inventory continued its downward trend, with the trend strengthening. Module manufacturers proceeded with stockpiling plans as scheduled, while glass manufacturers began centralized shipments, leading to a decrease in inventory.