Cell prices show significant differentiation, while the price of new glass orders has declined [SMM Silicon-based PV Morning Meeting Summary]

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SMM News on June 5:

Solar cell

prices

: The price of high-efficiency PERC182 solar cells (with efficiency of 23.2% and above) is 0.265-0.285 yuan/W. Due to limited total demand, there are very few existing players, and export demand accounts for a relatively high proportion; there is no trading volume in the PERC210 solar cell market.

The mainstream quotation for Topcon183 solar cells (with efficiency of 25% and above) is around 0.25-0.255 yuan/W; the mainstream transaction price for Topcon210RN is 0.265 yuan/W, with a quotation range of 0.265-0.27 yuan/W; the price of Topcon210N solar cells is around 0.26-0.265 yuan/W. The market situation for different sizes has diverged: prices for 183 and 210N continue to fall. For the former, reduced orders and continuous inventory buildup have forced transaction prices down, while for the latter, the market transaction price has declined due to large shipments by some enterprises at month-end. Orders for 210RN have increased due to demand, and producers are generally optimistic about the demand space in June, with prices recovering. It is expected that the difference in price trends for different sizes will remain stable in the near term.

The mainstream quotation for HJT 30% silver-coated copper (with efficiency of 25% and above) is 0.34-0.35 yuan/W, remaining stable. Overall, direct sales of HJT are limited, with integrated manufacturers being self-sufficient.

Production

: Producers continue to cut production, with global production scheduled within the sample for June at 56-57 GW, down 5.75% MoM. The reduction in overseas production scheduling is greater than that in the domestic market. In terms of technology breakdown, the proportion of TOPCon cell production scheduling has decreased by 2%, while BC has increased slightly. In terms of size breakdown, the supply proportion of 210r has steadily increased in response to the recovery in demand, and it is expected to increase significantly from late June to July.

Inventory

: There are also differences in inventory levels among different sizes. Inventory buildup is severe for 183, while the situation is optimistic for 210r. The overall inventory accumulation speed has slowed down, with a 7.45% increase WoW.

Module

prices

: In the current module market, the mainstream transaction price for N-type 182mm modules in centralized projects is 0.692-0.701 yuan/W, with an average price decrease of 0.03 yuan/W. The mainstream transaction price for N-type 210mm modules is 0.707-0.716 yuan/W, with an average price decrease of 0.03 yuan/W. The price of TOPCon distributed 182mm modules is 0.685-0.687 yuan/W, with recent fluctuations in module prices.

Production

: Domestic distributed orders have decreased, while industrial, commercial, and centralized projects have provided relative support. Module production continued to decline in June.

Inventory

: The overall inventory level of domestic modules has significantly decreased, with relatively fewer days of inventories currently. Inventory buildup began to occur gradually from June.

PV Film

Prices:

PV-grade EVA/POE:

The current price of PV-grade EVA is 10,000-10,400 yuan/mt. POE for PV applications is traded at 12,000-14,000 yuan/mt.

PV Film:

Currently, the mainstream prices for transparent EVA film with a weight of 420g are 5.17-5.25 yuan/m², while white EVA film with the same weight is priced at 5.67-5.75 yuan/m². EPE film with a weight of 380g is priced at 5.28-5.32 yuan/m², and POE film with the same weight is priced at 6.69-6.84 yuan/m².

Production

The production schedule for PV-grade EVA in June decreased by 2.70% MoM, and the production schedule for PV film decreased by 3.1% MoM.

Inventory

Currently, the inventory levels at petrochemical plants remain relatively low, with demand showing a weakening trend.

Prices

3.2mm Single-layer Coating: The quoted price for 3.2mm single-layer coated PV glass is 20.0-21.0 yuan/m², with new order quotes falling this week.

3.2mm Double-layer Coating: The quoted price for 3.2mm double-layer coated PV glass is 21.0-22.0 yuan/m², with new order quotes falling this week.

2.0mm Single-layer Coating: The quoted price for 2.0mm single-layer coated PV glass is 12.5-13.0 yuan/m², with new order quotes falling this week.

2.0mm Double-layer Coating: The quoted price for 2.0mm double-layer coated PV glass is 13.5-14.0 yuan/m², with new order quotes falling this week.

Production

Recently, the production of PV glass has continued to increase slightly, but it is expected that some enterprises will have plans to block production in the subsequent supply, which is expected to decline.

Inventory

The inventory level of glass has increased slightly, with industry inventory exceeding 30 days.