Polysilicon prices are rising, and there is a possibility of depleting module inventory

Polysilicon

Prices

Yesterday, the mainstream prices for N-type polysilicon were 39-43 yuan/kg, and the mainstream prices for dense polysilicon were 35-38 yuan/kg. The low-end prices for N-type polysilicon increased, with the lowest price reaching 39 yuan/kg, and the mainstream market transaction prices were at 40-41 yuan/kg. Transactions for higher-priced resources were limited. The price of 44 yuan/kg was only seen in a few small-volume transactions with traders and was not included in the standard sampling range.

Production

This week's supply is expected to be around 32,600 mt, up slightly from last week, with an increase in production bases for granular silicon manufacturers.

Inventory

Polysilicon inventory has risen, with some high-priced resources facing resistance, but crystal pulling plants are purchasing normally due to price advantages.

Solar Cells

Price

Current prices for high-efficiency PERC182 solar cells (23.2% efficiency and above) are 0.29-0.30 yuan/W; PERC210 solar cells prices are around 0.285-0.29 yuan/W; Topcon182 solar cells (24.7% efficiency and above) are around 0.28-0.29 yuan/W; Topcon210RN solar cells are 0.29-0.29 yuan/W; Topcon210 solar cells are 0.29-0.29 yuan/W. Current prices remain stable.

Production

In August, the combined planned production of solar cells by Chinese companies at domestic and overseas bases was 58.54 GW, with domestic planned production at 55.74 GW. Among these, the planned production of P-type cells was 8.96 GW, and N-type cells was 46.78 GW. The actual production is expected to be lower-than-expected.

Inventory

With the accelerated decline in demand for PERC cells, the inventory pressure for PERC cells has started to increase, while N-type solar cells are expected to enter the destocking phase in the middle to late part of the month.

Module

Prices

In the current module market, the mainstream transaction prices for centralized projects are as follows: PERC 182mm at 0.7-0.75 yuan/W, PERC 210mm at 0.71-0.76 yuan/W, N-type 182mm at 0.71-0.79 yuan/W, and N-type 210mm at 0.74-0.79 yuan/W. Module prices have decreased, and delivery demand has somewhat recovered. However, the transaction price center for N-type modules continues to shift downward due to increased competition and the impact of special-priced modules.

Production

In August, domestic scheduled module production is expected to increase slightly MoM, reaching around 48.5GW. The proportion of N-type module production is further rising. However, overall demand remains relatively flat, and export demand is weakening. Based on their own orders and inventory pressures, companies' production trends are diverging.

Inventory

At the end of July, module inventory slightly increased due to reduced price fluctuation frequency and the support of order delivery demand from producers. There is a possibility of destocking in August.

PV film

Price:

EVA/POE PV-grade resin:

The current domestic trading price of PV-grade EVA is approximately 9,400 yuan/mt, with market sentiment expecting a price increase. POE PV-grade resin temporarily maintains at $2,100-$2,150/mt for C4 and $2,200-$2,250/mt for C8.

PV film:

The current price of mainstream 420g transparent EVA film is 5.46-5.67 yuan/sqm, 420g white EVA film is 5.99-6.36 yuan/sqm, 380g EPE film is 6.46-6.65 yuan/sqm, and 380g POE film is 8.74-8.93 yuan/sqm. Some manufacturers are still in the negotiation period.

Production:

In August, the scheduled production of film was 440 million sqm, down 10.07% MoM. The scheduled production of PV-grade EVA in August was 91,700 mt, up 78.65% MoM.

Inventory

With the increase in PV-grade EVA production, inventory began to rise. Film scheduled production decreased this month, and inventory is on a downward trend.

Solar Inverter

Price

This week, the price range for solar inverters is as follows: 20kw (0.12-0.16 yuan/W), 50kw (0.11-0.15 yuan/W), 110kw (0.1-0.14 yuan/W), 320kw (0.09-0.11 yuan/W). The prices of solar inverters remain stable.

Supply and Demand

The supply side production is stable and sufficient. The demand for household and super power models is good, and the grid connection demand in emerging markets continues to drive shipment momentum.

PV Glass

Price

3.2mm single-coated: 3.2mm single-coated PV glass is quoted at 23.0-24.0 yuan/sqm, price remains stable.

3.2mm double-coated: 3.2mm double-coated PV glass is quoted at 24.0-25.0 yuan/sqm, price remains stable.

2.0mm single-coated: 2.0mm single-coated PV glass is quoted at 13.5-14.5 yuan/sqm, price remains stable.

2.0mm double-coated: 2.0mm double-coated PV glass is quoted at 14.5-15.5 yuan/sqm, price remains stable.

Output

This month, one 500 mt/day furnace in Hebei underwent cold repair, and two furnaces in Anhui underwent cold repair, with a total capacity of 1,800 mt/day. Supply is expected to continue to decline.

Inventory

This week, domestic module manufacturers continued to restock as needed. Market transactions were relatively moderate, and inventory levels remained balanced.