SMM daily comments on domestic PV chain industry by segment Oct 15

SMM, October 15:

PV Wafer Prices: The mainstream transaction price for monocrystalline wafers M10 is 1.1-1.2 yuan/piece, and N-type 18X wafer prices are 1.03-1.08 yuan/piece. The 210RN wafer has seen relatively less decline, with the lowest price currently above 1.23 yuan/piece. The price war for wafers continues, and N-type wafer prices keep falling.

Production: In October, some crystal pulling companies temporarily planned to increase production, with 2-3 new companies adding production. Silicon wafer production is expected to exceed 48 GW.

Inventory: There is some inventory pressure on wafers. After the National Day holiday, some top-tier enterprises shipped products, but overall, there is still significant inventory pressure in the market.

Solar Cell Prices: Affected by the decline in silicon wafer prices, the support for battery prices weakened. The current price for high-efficiency PERC182 solar cells (23.2% and above efficiency) is 0.28-0.28 yuan/W; PERC210 solar cells are around 0.28-0.29 yuan/W; Topcon182 solar cells (25% and above efficiency) are around 0.275-0.28 yuan/W; Topcon210RN solar cells are 0.27-0.28 yuan/W; Topcon210 solar cells are 0.28-0.29 yuan/W.

Production: In October, China's domestic solar cell production was 47.99 GW, including P-type 4.16 GW and N-type 43.83 GW. Some cell makers are still in the ramp-up phase after line adjustments, and actual production may be lower than expected.

Inventory: Specialized cell makers have entered an inventory reduction cycle after cutting production.

PV-grade EVA: The transaction price for PV-grade EVA temporarily remains at 9,500-9,700 yuan/mt, with a risk of further decline. The domestic delivery-to-factory price for POE film is about 12,500-13,500 yuan/mt, with room for negotiation for large purchases.

PV Film: The current mainstream price for 420g transparent EVA film is 5.25-5.46 yuan/m², 420g white EVA film is 5.67-6.17 yuan/m², 380g EPE film is 5.93-6.16 yuan/m², and 380g POE film is 6.84-7.22 yuan/m². There is still a trend of price reduction for PV film.

Production: In October, the planned production for PV-grade EVA is about 100,000 mt. The planned production for PV film is about 530 million m², with the increase mainly from top-tier film manufacturers. Recently, factories have gradually resumed work after holidays.

Inventory: Currently, the inventory of PV-grade EVA is relatively low. The production schedule of petrochemical plants in October is stable. Meanwhile, the increase in module production leads to strong demand for PV-grade EVA, and inventory is expected to remain stable.

Inverter Prices: This week's inverter price range is 20kw at 0.12-0.16 yuan/W, 50kw at 0.11-0.15 yuan/W, 110kw at 0.1-0.14 yuan/W, and 320kw at 0.09-0.11 yuan/W. Inverter prices remain stable.

Supply and Demand: The supply side is stable and sufficient, with a mediocre overall demand atmosphere. The demand for solar storage in Europe and emerging markets is driving inverter shipments.