Dear Users,
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Due to frequent changes in overseas policies, the US recently imposed reciprocal tariffs globally (including a 90-day exemption period) and made final anti-subsidy rulings against four Southeast Asian countries. This has effectively closed the channels for China to export PV modules directly or indirectly (via Southeast Asia) to the US. Currently, only direct procurement of cells from Laos, Indonesia, and other locations for re-export processing is possible. Therefore, SMM has promptly adjusted the corresponding price points.
To facilitate downstream and upstream enterprises in the PV industry chain to better monitor changes in the PV market, promptly reflect spot market prices, reduce transaction risks and costs in the PV market, and continuously improve and deepen research on the PV industry chain, SMM, after a period of deliberation and market surveys,
plans to introduce new unified price points from April 30 for market reference:
●TOPCon Module - 182mm - FOB Chinese Port
●TOPCon Module - 210mm - FOB Chinese Port
At the same time, the original price points will be suspended, including:
●Monocrystalline PERC Module (Bifacial) - 182mm - US
●TOPCon Module - 182mm - US
●Monocrystalline PERC Module (Bifacial) - 182mm - Europe
●TOPCon Module - 182mm - Europe
●Monocrystalline PERC Module (Bifacial) - 182mm - India
●TOPCon Module - 182mm - India
I. General Principles of SMM Price Assessment Methodology
SMM Information & Technology Co., Ltd. (hereinafter referred to as SMM) is a completely independent third-party service provider that does not participate in any substantive transactions. Instead, it maintains close communication with buyers and sellers in the market as an observer or organizer, providing relevant services to the market. Through communication with industry insiders, SMM continuously formulates, reviews, and revises its methodologies, adopting the most common product specifications, trade terms, and conditions in the industry, and treating normal transactions that meet specification standards equally. SMM reserves the right to exclude any price information deemed unreliable or unrepresentative from its price assessments.
SMM publishes daily spot metal prices (or price indices, including the Chinese market, markets outside China, and the global market), commonly referred to as SMM prices. SMM has developed corresponding methodologies for all published SMM prices (which will be published on SMM's official website, www.smm.cn, for inquiry). The methodologies specify the methods and procedures for generating and publishing SMM prices, and SMM strictly adheres to these methodologies when generating and publishing its prices.
To align with the actual conditions of the spot market, SMM will make necessary revisions to its SMM price assessment methodologies and announce them on SMM's official website before formal implementation. If you have any questions or suggestions regarding SMM prices or their methodologies, please contact SMM's customer service (contact information can be found on SMM's official website, www.smm.cn).
This document specifies the criteria for formulating SMM's FOB Chinese Port prices. The purpose of SMM in formulating these criteria is to establish a transparent and verifiable mechanism for determining SMM prices.
II. Formation of FOB Chinese Port Prices
2.1 Definitions
The module prices for SMM's FOB Chinese Port are formed and published by SMM based on this methodology. SMM collects the latest enterprise FOB quotes and market transaction prices for N-type TOPCon 182mm and N-type TOPCon 210mm modules that can be used for transactions at ports in Europe, Asia-Pacific, and the Middle East.
2.2 SMM's newly added module-related price points are as follows:
TOPCon Module - 182mm - FOB Chinese Port
TOPCon Module - 210mm - FOB Chinese Port
2.3 Method for Generating Quotes
SMM collects data information for assessing the prices of N-type TOPCon modules for FOB Chinese Port through price collection (i.e., gathering raw data information that meets SMM's standards). The FOB Chinese Port module prices only collect the new transaction or latest cargo pick-up prices for conventional imported modules on the day before the quote is collected. If there are no transactions or the number of transactions is ≤3, enterprise quotes will be adopted. If neither is available, the previous day's quote will be retained.
2.4 Method for Price Collection
SMM's price analysts regularly collect relevant data information on FOB Chinese Port transaction module prices from price submitters via phone, email, WhatsApp, etc. All records of instant messaging and email communications will be archived; details of phone communications will be summarized and entered into the database. The price data information must represent typical, repeatable transactions between non-affiliated market participants (financially and legally independent). SMM's price analysts must comply with the Compliance System when reporting to their supervisors any coercive or threatening communications from market participants, or any attempts to influence assessment results through induced offers. After the prices are published, SMM will not make any further corrections or adjustments on the same day.
2.5 Product Standards:
N-type TOPCon 182mm module: Maximum unit output power ≥550Wp
N-type TOPCon 210mm module: Maximum unit output power ≥620Wp
2.6 Pricing Unit and Format:
$/W; presented in a range format
2.7 Delivery Terms:
FOB price
2.9 Payment Terms:
Payment terms under negotiated transaction agreements
2.10 Update Time:
Transaction prices from the previous day are updated between 11:00-12:00 Beijing time each trading day morning
III. Methodology Changes
All markets are subject to change, and SMM has a responsibility to ensure that its methodologies for market reporting evolve in tandem with the market. Therefore, SMM will conduct regular internal reviews of the appropriateness of its methodologies based on industry feedback. For all substantive but non-urgent potential modifications, SMM will follow a formal external consultation process. Major changes will then be announced with a notice period of at least 28 days, inviting industry participants to provide comments, unless special circumstances, particularly force majeure (natural disasters, wars, exchange bankruptcies, etc.), necessitate a shorter notice period. SMM undertakes to carefully consider all comments regarding proposed methodology changes, but in some cases, may have to proceed with changes against the wishes of some market participants. Additionally, SMM has a formal methodology consultation process.
Silicon-Based PV Research Team, SMM Information & Technology Co., Ltd.
April 29, 2025
