SMM Weekly Review: Installation Rush Nears End, EVA Prices May Face Downward Pressure. This week, PV-grade EVA prices ranged from 11,550 to 11,950 yuan/mt, with transaction pace slowing down. The mainstream transaction prices for EVA film were 13,300 to 13,500 yuan/mt, and for EPE film, 15,200 to 15,500 yuan/mt, with prices remaining stable.

According to the "GFEX Risk Management Measures," after careful consideration, the exchange will adjust the price limit and trading margin standards for various futures contracts before and after the 2025 Labor Day holiday as follows: Starting from the settlement on Tuesday, April 29, 2025, the price limit for silicon metal futures contracts will be adjusted to 8%, the speculative trading margin standard to 10%, and the hedging trading margin standard to 9%. The price limit for polysilicon futures contracts will be adjusted to 9%, the speculative trading margin standard to 11%, and the hedging trading margin standard to 10%. The price limit for lithium carbonate futures contracts will be adjusted to 10%, the speculative trading margin standard to 12%, and the hedging trading margin standard to 11%.

Recently, Japanese solar manufacturer TOYO announced that its solar cell plant in Ethiopia officially commenced production in early April 2025, with an annual capacity of 2GW, marking the company's official launch of localized manufacturing on the African continent. As planned, the plant will deliver over 80MW of solar cell products to customers by the end of April 2025, and increase its monthly capacity to 150-200MW from May to June, achieving full production.

On April 15, 2025, the National Production Protection Directorate of the Ministry of Industry, Trade, and Supply in Jordan announced in the official gazette that, in response to the application from the domestic producer Philadelphia Solar Energy Company, it initiated an anti-dumping investigation on solar cells originating from or imported from China (Photovoltaic Cells assembled in modules or prepared as panels).

【SMM Analysis: Despite Market Downturn, PV Glass Prices Are Expected to Increase by 0.5 Yuan/m²】Current glass prices in April are as follows: 2.0mm single-layer coating (13.5-14.5 yuan/m²); 2.0mm double-layer coating (14.5-15.5 yuan/m²); 3.2mm single-layer coating (22-23.5 yuan/m²); 3.2mm double-layer coating (23-24.5 yuan/m²); 2.0mm back glass (12.5-13.5 yuan/m²). As of now, the mainstream transaction prices have decreased compared to early April, with the 2.0mm single-layer coating transaction price dropping to 13.5 yuan/m². However, following last week's glass meeting, some companies revealed that new glass orders in May are still expected to increase by 0.5 yuan/m² despite the market downturn.