Silicon Wafer Prices Fell Again in May, with Production Schedules for Solar Cells and Films Both Declining MoM [SMM Silicon-Based PV Morning Meeting Summary]

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SMM, May 6:

Wafer

Price: The price of N-type 18X wafers in the market is 0.98-1.05 yuan/piece; the price of 210R wafers is 1.15-1.2 yuan/piece. Wafer prices have fallen again, with weak market sentiment. Downstream players are driving down prices severely, and some companies have reduced prices again.

Production: Production cuts were common among specialized wafer enterprises in May, while production at some integrated enterprises increased MoM. Wafer production in May was approximately 54GW, showing an overall MoM decline.

Inventory: Wafer inventory rose slightly this week, with limited purchasing enthusiasm from downstream players due to raw material pressure and bearish expectations for the subsequent market.

Solar Cell

Price: The price of high-efficiency PERC182 solar cells (with efficiency of 23.2% and above) is 0.29-0.30 yuan/W, with prices declining and fewer orders; there is no trading volume in the PERC210 solar cell market. The price of Topcon183 solar cells (with efficiency of 25% and above) is around 0.27-0.28 yuan/W; Topcon210RN solar cells are priced at 0.27-0.28 yuan/W; Topcon210 solar cells are priced at around 0.285-0.295 yuan/W. Solar cell prices remained stable during the holiday, but with insufficient support from costs and demand, there is room for prices to decline further. There is little direct sales of HJT cells, with integrated manufacturers being self-sufficient.

Production: The production schedule for P-type solar cells in May decreased by 24.10% MoM, while the production schedule for N-type solar cells decreased by 7.14% MoM. Among TOPCon series solar cells, 210RN saw the largest production cuts, with a MoM decrease of -16.95%, followed by 183N (MoM -6.89%) and 210N (MoM -4.57%).

Inventory: Solar cell inventory continued to rise, with current inventory at export factories exceeding 4GW.

PV Film

Price

PV-grade EVA: The transaction price of PV-grade EVA is 11,000-11,700 yuan/mt. The domestic settlement price of PV-grade POE is approximately 12,000-14,000 yuan/mt.

PV film: Currently, the mainstream price of 420g transparent EVA film is 5.38-5.59 yuan/m², 420g white EVA film is 5.88-6.09 yuan/m², 380g EPE film is 5.51-5.7 yuan/m², and 380g POE film is 6.84-7.22 yuan/m².

Production: The production schedule for PV-grade EVA in May decreased by 11.84% MoM, and the production schedule for PV film decreased by 15.73% MoM.

Inventory: With slowing demand, inventory levels at petrochemical plants remained low.