Wafer Prices Drop Back Slightly, Overall Cell Transaction Volume Declines [[SMM Silicon-Based PV Morning Meeting Summary]]

》Check SMM silicon product quotes

》Subscribe to view historical price trends of SMM metal spot cargo

》Click to view SMM metal industry chain database

SMM News on May 9:

Silicon Coal

Price

This week, the prices of caking and non-caking silicon coal in Xinjiang have slightly decreased. Currently, the price of non-caking silicon coal in Xinjiang is 880-920 yuan/mt, while caking silicon coal is priced at 1,400-1,500 yuan/mt. In Gansu, the price of silicon blended coal is 1,010-1,030 yuan/mt, and the price of granular coal is 1,170-1,190 yuan/mt. In Ningxia, the price of granular coal (with 5%-6% ash content) is 1,400-1,500 yuan/mt.

Supply

Recently, due to the low operating rate of silicon metal plants, the demand for silicon coal has also contracted simultaneously. Therefore, some silicon coal plants in Gansu have adopted the "produce based on sales" model, producing based on demand to maintain a low level of silicon coal inventory and reduce the pressure of inventory buildup.

Demand

As downstream demand remains weak and the consumption cycle of raw materials continues to lengthen, procurement is mainly for immediate needs and in small orders for restocking, placing significant pressure on silicon coal plants. Additionally, influenced by the pre-holiday restocking, the post-holiday market has been relatively quiet, with low liquidity.

Silicon Metal

Price

Yesterday, the price of oxygen-blown #553 silicon metal in east China was 9,000-9,300 yuan/mt. The main futures contract fluctuated considerably, closing at 8,315 yuan/mt. The center of silicon metal transactions remained weak. There was a significant difference in the high and low price quotes from silicon suppliers, with transactions occurring based on demand.

Production:

The operating rate of silicon metal plants in the north-west China region is relatively weak, while in Sichuan, it is relatively strong. Overall, there is a greater reduction in production than an increase in May, and the supply of silicon metal is expected to decrease MoM in May.

Inventory

Social Inventory: According to SMM statistics, the total social inventory of silicon metal in major regions was 596,000 mt on May 8, a decrease of 7,000 mt WoW. Among this, the social general warehouse inventory was 133,000 mt, a decrease of 3,000 mt WoW, and the social delivery warehouse inventory was 463,000 mt (including unregistered warrants and spot cargo), a decrease of 4,000 mt WoW. (Excluding Inner Mongolia, Gansu, etc.)

Wafer

Price

The market price of N-type 18X wafers is 0.95-1.05 yuan/piece, and the price of N-type 210RN wafers is 1.15-1.2 yuan/piece. Prices have slightly pulled back this week, mainly reflected in individual transactions of 183mm wafers. Currently, there is significant pressure from downstream, and some second- and third-tier manufacturers chose to sell at the beginning of the week.

Production

Global wafer production in May is expected to be around 58GW, showing a decrease of about 3GW MoM from April, mainly due to some specialized enterprises reducing their production schedules based on cost and market considerations.

Inventory

During the Labour Day holiday, market transactions were moderate, with some solar cell plants choosing to restock at low prices, while wafer inventory decreased slightly.

Solar Cell

Price

The price of high-efficiency PERC182 solar cells (with efficiency of 23.2% and above) was 0.295-0.30 yuan/W, with prices declining and fewer orders; there was no trading volume in the PERC210 solar cell market.

The price of Topcon183 solar cells (with efficiency of 25% and above) was around 0.26-0.275 yuan/W; Topcon210RN solar cells were priced at 0.26-0.27 yuan/W; Topcon210 solar cells were priced at around 0.28-0.285 yuan/W. The overall price of solar cells continued to decline, with the 210 price remaining relatively firm due to demand support.

There was little direct sales of HJT cells, with integrated manufacturers being self-sufficient.

Production

The planned production of PV solar cells in May reached 60-61GW, representing a production cut of approximately 7.20% from April. In May, Topcon production decreased by more than 8% MoM. With weakened demand for solar cells, it is expected that enterprises will experience some inventory buildup in the first half of the month.

Inventory

Solar cell inventory has increased somewhat, with currently high inventory levels of 210RN cells within the industry, while 210N cells are in undersupply.

PV Film

Price

PV-grade EVA

The price of PV-grade EVA was 11,000-11,700 yuan/mt. The domestic delivery-to-factory price of PV-grade POE was approximately 12,000-14,000 yuan/mt, with POE prices remaining stable for the time being.

PV Film

Currently, the mainstream prices for PV films are as follows: 420g transparent EVA film is priced at 5.38-5.59 yuan/m², 420g white EVA film at 5.88-6.09 yuan/m², 380g EPE film at 5.51-5.7 yuan/m², and 380g POE film at 6.84-7.22 yuan/m².

Production

In April, the planned production of PV-grade EVA increased by 8.22% MoM, and the planned production of PV film increased by 9.07% MoM.

Inventory

Currently, petrochemical enterprises have low inventory levels, and the pace of recent transactions for PV-grade EVA has slowed down.