N-type module prices fell slightly during the holiday, and upstream market transactions stabilized

Industrial silicon: Before the Labour Day holiday, the leading companies slightly raised their quotations by 100 yuan/mt, market confidence was boosted, and downstream traders were still enthusiastic about inquiries. On the first day after the holiday, the most-traded industrial silicon fluctuated around 12,050 yuan/mt. The liquidity of some low-grade silicon hedging supplies was limited, and the silicon market quotations showed an intention to rise. Downstream users such as grinding mills and silicone were cautious in purchasing and mostly took a wait-and-see attitude, and the market transaction performance was moderate.

Polysilicon: During the holiday period, the mainstream market transaction price of P-type dense material was 39-44 yuan/kg, and the transaction price of N-type dense polysilicon was 43-49 yuan/kg. During the holiday, polysilicon market transactions were extremely limited, resulting in price stabilization with small fluctuations. However, production did not stop during the holidays, polysilicon inventories continued to rise, and news of price cuts continued to spread in the market. Prices may fall again in the short term.

Silicon wafer: The mainstream transaction prices of monocrystalline silicon wafer 182mm and N-type silicon wafer 182mm were 1.53-1.65 yuan/piece and 1.4-1.6 yuan/piece respectively. During the holiday period, the price of silicon wafers remained stable with slight fluctuations. The market shipped normally, but the number of new orders was small. The inventory of silicon wafers increased slightly. Supported by costs, the price of silicon wafers remained stable for the time being.

Batteries: During the Labour Day holiday, batteries were shipped normally, but transactions were relatively few. The current direct sales price has not changed from before the holiday, but the outsourcing fee have been reduced. In May, the production ratio of N-type batteries exceeded 75%.

Output of N-type solar were 48.94GW, up 10.78% MoM. The downstream demand for N-type batteries increased to more than 44GW in May, with both supply and demand growing. At the same time, high-efficiency batteries are in oversupply. Currently, integrated component factories still have a certain amount of inventory of both silicon wafer raw materials and battery raw materials. Although the component production schedule in May has not been reduced, battery orders are not as good as last month. With the increase in battery production, market price competition has intensified, and price declines are expected to continue.

Modules: The mainstream transaction prices of domestic monocrystalline bifacial 182mm and 210mm modules were 0.79-0.87 yuan/w and 0.81-0.90 yuan/w respectively. During the holiday period, the price of P-type modules remained stable with slight fluctuations, while the price of N-type modules fell slightly due to market competition. Some module companies suspended production during Labour Day holiday. The production of components in May was basically the same as that of the previous month, and market sentiment remained relatively pessimistic.

Terminal: During the Labour Day holiday, the number of bidding orders decreased, but the construction of photovoltaic projects continued to advance vigorously. In order to achieve the mid-year grid-connected target, large-scale photovoltaic projects have actively accelerated construction progress during the holidays, and component procurement and delivery are also underway. Distributed projects continued to be connected to the grid on a rolling basis, and as summer approaches, the enthusiasm for installation has increased. After the holiday, terminals are mainly holding a bearish mentality towards component prices, and new delivery orders have a downward trend. The bidding market expects that prices will continue to fall after the holiday.

EVA: The prices of photovoltaic-grade EVA and film are on the rise. During the holidays, the production of films and particles did not stop, and the market sentiment also seemed to ease a lot with the arrival of the holidays. Although various companies have been discussing price adjustments, the sentiment of particle price reduction was not so obvious during the Labour Day holiday due to cost suppression. The tone has been set in April, and there is very limited room for price reduction in May. It is expected that the price of films will undergo significant adjustments after the holidays, and the adjustment of single particle is quite limited.

Photovoltaic glass: During the Labour Day holiday, the photovoltaic glass market was relatively stable. As the price of new orders has not yet been finalized, there were no transactions in the market. Orders were signed after the price was negotiated after the holiday. As for inventory, the recent demand for components has been slightly sluggish, resulting in a slight inventory growth at glass companies. However, as orders are signed, inventory is expected to fall slightly.

High-purity quartz sand: Before the holiday, domestic high-purity quartz sand quotations began to loosen, but transactions have not improved. Most companies are mainly bargaining and waiting, and plan to lower prices again appropriately. Quartz sand companies have decided to make concessions and ship goods. There has been no transaction in the market during the holiday. It is expected that some downstream crucible companies will start purchasing after the holiday, and there is a positive expectation for transactions.