Solar cell prices at downside risk due to weak demand

Last week, mainstream solar cell prices remained stable. High-efficiency PERC182 cells (23.2% efficiency and above) were priced at 0.30-0.31 yuan/W; PERC210 cells were priced around 0.30-0.31 yuan/W; Topcon182 cells (24.7% efficiency and above) were priced around 0.28-0.30 yuan/W; Topcon210RN cells were priced at 0.29-0.32 yuan/W; Topcon210 cells were priced at 0.31-0.32 yuan/W.

Increased self-sufficiency at downstream module factories has significantly cut demand for external procurement, leading to lower market transaction volumes. Consequently, many cell manufacturers have faced a shortage of orders in July, with some securing none, intensifying price competition again. Despite a 6.6% MoM increase in scheduled production for July, mainstream N-type cell prices and those through dual distributors could still drop. The cell sector's losses are deepening, heightening pressure on specialized cell manufacturers. Topcon cells are expected to accumulate stock, and some specialized factories may reduce operating rates.