Wafer prices fell again, solar cell inventory increased, and demand for PV-grade EVA gradually slowed down. [SMM Silicon-Based PV Morning Meeting Summary]

Published: Apr 22, 2025 09:06

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【SMM Silicon-Based PV Morning Meeting Summary: Wafer Prices Decline Again, Solar Cell Inventory Rises, PV-Grade EVA Demand Gradually Slows】Wafer: The market price for N-type 18X wafers is 1.15-1.2 yuan/piece, while the price for 210R wafers is 1.35-1.4 yuan/piece. Wafer prices have declined again, with weak market sentiment and severe price pressure from downstream, leading some companies to lower prices once more. Solar Cell: Inventory of solar cells has increased, with 210RN models accelerating inventory buildup. PV Film: Recent transactions for PV-grade EVA have been limited, the installation rush for modules has weakened, and demand is gradually slowing, while in-plant inventory at petrochemical plants remains low.

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SMM April 22 News:

Wafer

Price: The market price for N-type 18X wafers is 1.15-1.2 yuan/piece; the price for 210R model wafers is 1.35-1.4 yuan/piece. Wafer prices have dropped again, market sentiment is weak, downstream price pressure is severe, and some companies have lowered prices again.

Production: Wafer production in April is on schedule, with normal production in the Sichuan-Yunnan region. Wafer production in April is expected to be 58-59GW. Many companies have no plans to increase production in May.

Inventory: Wafer inventory dropped back slightly this week, but overall fluctuations are limited. Downstream purchases are moderate, with a strong resistance to high-priced resources.

Solar Cell

Price: The price for high-efficiency PERC182 solar cells (23.2% and above efficiency) is 0.31-0.32 yuan/W, with few orders; the PERC210 cell market has no trading volume. The price for Topcon183 solar cells (25% and above efficiency) is around 0.285-0.29 yuan/W; Topcon210RN solar cells are priced at 0.275-0.29 yuan/W; Topcon210 solar cells are priced at around 0.3-0.3. The prices for 183 and 210RN cells are still declining, while the 210N price remains relatively firm. HJT direct sales are few, with integrated manufacturers self-sufficient.

Production: Planned production of solar cells in April reached 63-64GW, up more than 13% MoM. Topcon210R and 210N cell production increased by more than 36% MoM in April. Production cuts in May are mainly from integrated manufacturers.

Inventory: Solar cell inventory has risen, with 210RN accelerating 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 around 12,000-14,000 yuan/mt.

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

Production: Planned production of PV-grade EVA increased by 8.22% MoM in April, while PV film production increased by 9.07% MoM.

Inventory: Recent transactions for PV-grade EVA are few, the installation rush for modules is weakening, demand is gradually slowing, and petrochemical plant inventory remains at a low level.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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