Rush for Installations Boosts Component Production Schedule Robust Demand for PV-Grade EVA [SMM Silicon-Based PV Morning Meeting Summary]

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SMM, March 21:

Silica

Price

This week, silica prices remained stable. As silicon plants in south-west China have not yet clearly indicated the resumption time for the rainy season, most production resumption plans are still pending. Therefore, demand for raw material silica remains weak, with no significant increase in bulk concentrated demand. Currently, the mine-mouth price of low-grade silica in Yunnan is 330-350 yuan/mt. The mine-mouth price of high-grade silica in Inner Mongolia is 350-380 yuan/mt. The mine-mouth price of high-grade silica in Hubei is 400-450 yuan/mt. The mine-mouth price of high-grade silica in Jiangxi is 430-460 yuan/mt.

Production

Overall, the supply of silica from mines is relatively loose.

Demand

From the demand perspective, there was no significant increase in raw material procurement in March, and overall raw material demand remains at a relatively low level.

Silicon Metal

Price

This week, spot silicon metal prices continued to be weak, with a narrower decline compared to last week. Yesterday, the smm ex-factory price of above-standard #553 silicon in east China was 10,300-10,500 yuan/mt. The most-traded SI2505 futures contract continued to fluctuate downward. Market transactions remained on a need basis.

Production:

This week, the operating capacity of large-scale silicon metal enterprises increased, leading to an overall increase in the supply of silicon metal.

Inventory

Social inventory: According to SMM statistics, as of March 14, the total national social inventory of silicon metal was 594,000 mt, a decrease of 5,000 mt from last week. Among this, the inventory in general warehouses was 139,000 mt, a decrease of 2,000 mt from last week, and the inventory in delivery warehouses (including unregistered warrants and spot parts) was 455,000 mt, a decrease of 3,000 mt from last week.

Silicon Wafer

Price

The market price of N-type 18X silicon wafers is 1.18-1.2 yuan/piece, and the price of N-type 210RN silicon wafers is 1.35-1.45 yuan/piece. The price focus for silicon wafers is still on 210R, with 1.45 yuan/piece mainly being a tentative quote, and actual transactions have not yet fully started.

Production

In March, the production schedule for silicon wafers continued to increase, with more widespread increases among first- and second-tier companies. The Q2 quota distribution is higher than previous expectations.

Inventory

Recent transactions for silicon wafers are mainly for 210R, and the inventory trend continues to decline.

Solar Cell

Price

The price of high-efficiency PERC182 solar cells (23.2% and above efficiency) is 0.31-0.32 yuan/W; there is no trading volume for PERC210 solar cells.

The price of Topcon183 solar cells (25% and above efficiency) is around 0.3-0.3 yuan/W, the price of Topcon210RN solar cells is 0.33-0.34 yuan/W, and the price of Topcon210 solar cells is 0.3-0.3 yuan/W. The prices of 183N and 210N solar cells are increasing, but the price increase for 210RN is slowing down.

There are fewer direct sales of HJT, and integrated manufacturers are self-sufficient.

Production

In March, the production schedule for Topcon solar cells increased by 36.04% MoM, Topcon183 solar cells increased by 43.31% MoM, Topcon210R solar cells increased by 89.18% MoM, and Topcon210 solar cells increased by 29.42% MoM.

Inventory

Solar cell shipments are tight, and inventory continues to decline. There is a rush for 210RN solar cells, with extremely low inventory.

PV Film

Price

PV-grade EVA

The transaction price of PV-grade EVA is 11,550-11,900 yuan/mt. The domestic delivery-to-factory price of PV-grade POE is approximately 12,000-14,000 yuan/mt, and the POE price remains stable.

PV Film

The current mainstream 420g transparent EVA film price is 5.46-5.67 yuan/m², the 420g white EVA film price is 5.96-6.17 yuan/m², the 380g EPE film price is 5.79-5.89 yuan/m², and the 380g POE film price is 6.84-7.22 yuan/m².

Production

In March, the production schedule for PV-grade EVA increased by 13.7% MoM, and the production schedule for PV film increased by 28.5% MoM.

Inventory

Currently, the inventory of petrochemical companies is low, and with the increase in module production, the demand for EVA has significantly grown.