Wafer prices largely stable, cell inventory continues to rise [SMM Silicon-based PV Morning Meeting Summary]

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SMM News on May 13:

Wafer

Price: The price of N-type 18X wafers in the market ranges from 0.95 to 1 yuan/piece; the price of 210R wafers is 1.1-1.1 yuan/piece. Wafer prices are largely stable, with upward pressure remaining. However, wafer manufacturers are temporarily standing firm on quotes due to cost pressure.

Production: Production cuts were widespread among specialized wafer enterprises in May, while a few integrated enterprises saw a MoM increase in production. Domestic wafer production in May was approximately 55+GW, and global wafer production was around 58GW+, down MoM from April.

Inventory: Wafer inventory has recently fluctuated slightly, with downstream demand limited due to raw material pressure and limited enthusiasm for subsequent production restarts and purchases.

Solar Cell

Price: The price of high-efficiency PERC182 solar cells (with efficiency of 23.2% and above) ranges from 0.29 to 0.295 yuan/W, with prices declining and fewer orders; there is no trading volume in the PERC210 solar cell market. The price of Topcon183 solar cells (with efficiency of 25% and above) is around 0.26-0.27 yuan/W; Topcon210RN solar cells are priced at 0.26-0.27 yuan/W; Topcon210 solar cells are priced at around 0.28-0.285 yuan/W. Overall solar cell prices continue to decline, with 210 prices remaining relatively firm due to demand support. There is little direct sales of HJT cells, with integrated manufacturers being self-sufficient.

Production: The production schedule for P-type solar cells in May decreased by 24.10% MoM, while that for N-type solar cells decreased by 7.14% MoM. Among TOPCon series solar cells, 210RN saw the largest production cuts, with a MoM decrease of -16.95%, followed by 183N (MoM -6.89%) and 210N (MoM -4.57%).

Inventory: Solar cell inventory continues to rise, with enterprises facing shipping pressure.

PV Film

Price

PV-grade EVA: The transaction price of PV-grade EVA ranges from 10,650 to 10,900 yuan/mt. The domestic settlement price of PV-grade POE is approximately 12,000-14,000 yuan/mt.

PV Film: Currently, the mainstream price of 420g transparent EVA film is 5.38-5.59 yuan/m², 420g white EVA film is priced at 5.88-6.09 yuan/m², 380g EPE film is priced at 5.51-5.7 yuan/m², and 380g POE film is priced at 6.84-7.22 yuan/m².

Production: The production schedule for PV-grade EVA in May decreased by 11.84% MoM, and that for PV film decreased by 15.73% MoM.

Inventory: Overall transactions of EVA are average, with a strong wait-and-see sentiment in the market. Petrochemical plant inventories remain at a low level.