【SMM Silicon-Based PV Morning Meeting Summary】Wafer Prices Rise, Solar Cell Prices Remain High, Production Schedule Increases MoM in April

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SMM April 1 News:

Wafer

Price: The market price for N-type 18X wafers is 1.2-1.23 yuan/piece; the price for 210R model wafers is 1.4-1.55 yuan/piece. Wafer prices have risen again, influenced by events such as earthquakes, leading top-tier enterprises to raise their quotes once more.

Production: The planned production for wafers in March slightly declined due to production impacts in the last two days. Domestic wafer production in April is expected to continue increasing, but the increment may fall short of expectations.

Inventory: Wafer inventory dropped back slightly this week, mainly due to demand. The good demand for solar cells from March to April may increase the enthusiasm for wafer procurement. There is still potential for destocking of wafers in the future.

Solar Cell

Price: The price for high-efficiency PERC182 solar cells (23.2% and above efficiency) is 0.31-0.32 yuan/W; there is no trading volume for PERC210 cells in the market. The price for Topcon183 and Topcon210 solar cells (25% and above efficiency) is around 0.30-0.31 yuan/W; the price for Topcon210RN solar cells is 0.34-0.34 yuan/W. Recently, solar cell prices have stabilized at a high level. HJT direct sales are few, with integrated manufacturers being self-sufficient.

Production: The planned production for PV solar cells in April reached 63-64 GW, up more than 13% MoM. The production for Topcon210R and 210N cells increased by more than 36% MoM, with ample supply of large-sized cells.

Inventory: 210RN cells are still in tight supply, while 183N cells show a trend of inventory buildup.

PV Film

Price

PV-grade EVA: The transaction price for PV-grade EVA is 11,550-11,950 yuan/mt. The domestic settlement price for PV-grade POE is about 12,000-14,000 yuan/mt.

PV Film: The current mainstream price for 420g transparent EVA film is 5.54-5.67 yuan/m², for 420g white EVA film is 6.04-6.17 yuan/m², for 380g EPE film is 5.79-5.89 yuan/m², and for 380g POE film is 6.84-7.22 yuan/m².

Production: The planned production for PV-grade EVA increased by 13.7% MoM in March, and the planned production for PV film increased by 28.5% MoM.

Inventory: There have been some transactions for PV-grade EVA recently. Due to the rush for installations and increased production of modules, there is a significant increase in demand, and inventory is expected to remain at a low level.