China March PV module output and April forecast

SMM data showed that domestic PV module output was up by 78.3% MoM at 54.4GW in March, owing to order backlogs from January-February and pick-up of domestic and overseas markets. The inventory of module companies is relatively controllable. In order to expand market share, the production enthusiasm of leading companies is still high. Scheduled production increased further to around 58GW in April, but due to concerns about inventory and cost pressures on small factories, the increase has been significantly reduced.