The bidding for cells has become increasingly fierce, and the pace of inventory buildup for films has slowed down [SMM Silicon-Based PV Morning Meeting Summary]

》Check SMM silicon product quotes

》Subscribe to view historical price trends of SMM metal spot cargo

》Click to view SMM metal industry chain database

SMM reported on July 3:

Solar cell

prices

The price of high-efficiency PERC182 solar cells (with efficiency of 23.2% and above) is 0.265-0.27 yuan/W. Domestic demand is extremely low, with all orders being export orders. The market operating rate is extremely low, and producers start or stop production lines based on orders.

The transaction price of Topcon183N solar cells (with efficiency of 25% and above) is 0.225-0.23 yuan/W; that of Topcon210RN is 0.245-0.25 yuan/W; and that of Topcon210N solar cells is around 0.24-0.25 yuan/W. Under the pressure of destocking at month-end, price competition has intensified, and price fluctuations have increased. Compared with last week, the lowest prices of 183N/210N/210RN have decreased by 0.05/0.1/0.1 yuan/W respectively.

HJT30% silver-clad copper (with efficiency of 25% and above) has recently stabilized at 0.35-0.36 yuan/W. Due to market demand fluctuations and cost control, prices have increased. HJT overall direct sales are relatively low, with integrated producers being self-sufficient.

Production

The global production schedule of Chinese enterprises in July is 54-55 GW, down 3% MoM. Supported by the remaining installation rush orders, the overall production cuts are relatively small, and the proportion of 210RN production schedule has increased to over 40% of the total.

Inventory

At month-end, export factories have intensified their destocking efforts, with inventory decreasing by nearly 30% WoW, among which 183 accounts for the highest proportion.

Module

prices

Currently, the price spread in the module market has widened. The mainstream transaction prices of N-type 182mm modules for centralized projects are 0.642~0.657 yuan/W, and those of N-type 210mm modules are 0.657~0.672 yuan/W. The price of TOPCon distributed 182mm modules is 0.666~0.679 yuan/W, and that of distributed 210mm modules is 0.666~0.679 yuan/W. All the above prices include freight.

Production

Module production in July decreased by 2% MoM, with production cuts mainly focusing on 18X series modules. Some module factories are facing a shortage of orders and may continue to cut production in July.

Inventory

Currently, modules have returned to the inventory buildup cycle, with 182&183 modules experiencing inventory buildup, and demand for 210mm modules also slowing down.

PV film

Prices:

PV-grade EVA/POE:

The current price of PV-grade EVA is 9,500-9,750 yuan/mt. The transaction price of PV-grade POE is 11,000—14,000 yuan/mt.

PV film:

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

Production

In July, the production schedule for PV-grade EVA rose by 0.24% MoM, while that for PV film fell by 1.87% MoM.

Inventory

With declining demand in July and some petrochemical plants undergoing production conversion and maintenance, the pace of inventory buildup will gradually slow down.

Price

3.2mm single-layer coating: The quoted price for 3.2mm single-layer coating PV glass ranges from 18.0 to 19.0 yuan/m², with glass companies lowering their quotes this week.

3.2mm double-layer coating: The quoted price for 3.2mm double-layer coating PV glass ranges from 19.0 to 20.0 yuan/m², with glass companies lowering their quotes this week.

2.0mm single-layer coating: The quoted price for 2.0mm single-layer coating PV glass ranges from 10.5 to 11.0 yuan/m², with glass companies lowering their quotes this week.

2.0mm double-layer coating: The quoted price for 2.0mm double-layer coating PV glass ranges from 11.5 to 12.0 yuan/m², with glass companies lowering their quotes this week.

Production

As of the first week of July, an additional 1,800 mt/day of kiln cold repair was carried out in Anhui, China. It is expected that there will still be kiln cold repairs and blockages planned for the rest of July, leading to a continuous decline in supply.

Inventory

This week, the glass inventory level remained basically unchanged. Module companies mainly made just-in-time procurements, but some companies gradually showed a tendency to stock up, though they are still mainly adopting a wait-and-see approach.