Leading companies have advocated for higher silicon wafer prices. Have recent prices for silicon wafers successfully increased?

SMM reports that a leading domestic silicon wafer company recently initiated a new round of pricing. The price of N-type 182mm silicon wafers increased to 1.63 yuan/piece, and 183.75mm wafers rose to 1.65 yuan/piece, drawing significant market attention.

Since mid to late March, a notable increase in silicon wafer scheduled production has caused an oversupply, exacerbated by falling polysilicon prices. This has led to a prolonged slump in the PV upstream market, with intense competition and an anticipated price decline in Q2. However, following a price hike by a leading silicon wafer company, some market participants are now reassessing upstream trends for Q2.

A week after the price increase, what is the current state of silicon wafer market prices?

According to SMM, there has not been a general price increase for silicon wafers. For instance, the price of the N-type 182mm silicon wafer remains around 1.55 yuan/piece, and leading companies have barely signed any new orders since the beginning of April.

The primary reason for the stagnant silicon wafer prices is the high inventory levels and the lack of significant scheduled production adjustments. SMM reports that the current inventory of silicon wafers in China remains around 3.5 billion pieces, historically high. Additionally, three companies each hold inventories exceeding 500 million pieces.