The price of new glass orders increased, and the production schedule for film continued to rise. [SMM Silicon-Based PV Morning Meeting Summary]

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SMM April 3 News:

Solar Cell

Prices

The price of high-efficiency PERC 182 solar cells (23.2% and above efficiency) is 0.31-0.32 yuan/W; the PERC 210 solar cell market has no trading volume.

The prices of Topcon 183 and Topcon 210 solar cells (25% and above efficiency) are around 0.30-0.31 yuan/W; the price of Topcon 210RN solar cells is 0.34-0.34 yuan/W. Recently, solar cell prices have stabilized at high levels.

HJT direct sales are limited, with integrated manufacturers self-sufficient.

Production

The planned production of PV cells in April reached 63-64 GW, up more than 13% MoM. The production of Topcon 210R and 210N cells increased by more than 36% MoM, with sufficient supply of large-size cells.

Inventory

The tight supply of 210RN cells is expected to ease soon, while 183N cells are experiencing inventory buildup.

Module

Prices

In the current module market, the mainstream transaction price for N-type 182mm centralized projects is 0.732-0.75 yuan/W, with an average increase of 0.028 yuan/W, and the mainstream transaction price for N-type 210mm is 0.747-0.765 yuan/W, with an average increase of 0.028 yuan/W. The price of Topcon distributed modules is 0.776-0.788 yuan/W, showing a slight upward trend.

Production

Overall, the planned production in March increased by 41% MoM, with more orders being delivered, and the planned production in April is expected to continue growing.

Inventory

Due to the rush for distributed installations earlier, module manufacturers' inventory has declined rapidly, and current inventory levels remain relatively low.

PV Film

Prices:

PV-grade EVA/POE:

The current price of PV-grade EVA is 11,550-11,950 yuan/mt. The transaction price of PV-grade POE is 12,000-14,000 yuan/mt.

PV Film:

The current mainstream prices are 420g transparent EVA film at 5.46-5.67 yuan/m², 420g white EVA film at 5.96-6.17 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 April increased by 8.22% MoM, and the planned production of PV film increased by 9.07% MoM.

Inventory

Currently, petrochemical plant inventory is low, module production is rising, supply is tight, and demand is increasing. Inventory is expected to remain at low levels.

Prices

3.2mm single-layer coating: The price of 3.2mm single-layer coated PV glass is 22.5-23.5 yuan/m², with new orders in April seeing price increases.

3.2mm double-layer coating: The price of 3.2mm double-layer coated PV glass is 23.5-24.5 yuan/m², with new orders in April seeing price increases.

2.0mm single-layer coating: The price of 2.0mm single-layer coated PV glass is 13.5-14.5 yuan/m², with new orders in April seeing price increases.

2.0mm double-layer coating: The price of 2.0mm double-layer coated PV glass is 14.5-15.5 yuan/m², with new orders in April seeing price increases.

Production

This week, a new 1,200 mt/day kiln was added in Jiangsu and Hebei, and domestic supply is expected to continue rising. However, overall domestic glass supply in April remains tight.

Inventory

Glass inventory levels have further declined, and with increased demand, the destocking speed is expected to accelerate.