Transaction prices in the wafer market continue to decline, with solar cell inventory down nearly 30% WoW [SMM Silicon-Based PV Morning Meeting Summary]

SMM News on July 1:

Wafer

Prices: The market price of N-type 18X wafers is 0.85-0.88 yuan/piece; the price of 210R wafers is 1-1.05 yuan/piece. Wafer prices continue to weaken, and market transaction prices continue to decline.

Production: Domestic wafer production in June was approximately 58GW, with the 210R size defying the market trend and increasing, while the sales of 183 wafers were significantly hindered. However, the overall downward trend in wafer prices is evident, with wafer companies experiencing severe cash losses. In July, several wafer companies have production cut plans, with production expected to decline by around 10%.

Inventory: Wafer inventory has recently fluctuated slightly. Compared to the production of solar cells, the overall supply and demand are in a tight balance, with wafer inventory at around 20GW.

Solar Cell

Prices: The price of high-efficiency PERC182 solar cells (with 23.2% efficiency or higher) is 0.265-0.27 yuan/W. Mainly driven by overseas orders, some producers are integrating production line resources and starting or stopping production based on order conditions. The mainstream quotation for Topcon183N solar cells (with 25% efficiency or higher) is 0.23-0.235 yuan/W; for Topcon210RN, it is 0.25-0.26 yuan/W; and for Topcon210N, it is 0.245-0.255 yuan/W. Overall prices continue to decline, reaching record lows, with the transaction center for 183N shifting overseas; 210N and 210RN prices are adjusting downward due to destocking by some companies. The mainstream quotation for HJT30% silver-coated copper (with 25% efficiency or higher) is 0.35-0.36 yuan/W. Prices have increased due to market demand fluctuations and cost control. HJT has relatively few direct sales, with integrated manufacturers being self-sufficient.

Production: The global production schedule for July is 53-54GW, down 3% MoM. Supported by the remaining orders from the installation rush, the production cut is relatively small.

Inventory: At month-end, export factories have increased their destocking efforts, with inventory declining by nearly 30% WoW, with 183 wafers accounting for the highest proportion.

PV Film

Prices

PV-grade EVA: The transaction price of PV-grade EVA is 9,700-9,900 yuan/mt. The domestic settlement price of PV-grade POE is approximately 11,000-14,000 yuan/mt.

PV Film: Currently, the mainstream price of 420g transparent EVA film is 5.17-5.25 yuan/m², the price of 420g white EVA film is 5.67-5.75 yuan/m², the price of 380g EPE film is 5.28-5.32 yuan/m², and the price of 380g POE film is 6.69-6.84 yuan/m².

Production: The production schedule for PV-grade EVA in July is expected to decline by 3.1% MoM, and the production schedule for PV film is expected to decline by 4.3% MoM.

Inventory: Recently, film companies have been replenishing their stock, with EVA gradually destocking. Some petrochemical companies have switched to maintenance, gradually tightening the overall supply of EVA.

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