Silicon metal prices have fluctuated significantly, and the trend of supply and demand remains unclear [SMM Silicon-based PV Morning Meeting Summary]

》Check SMM silicon product quotes

》Subscribe to view historical price trends of SMM metal spot

》Click to view SMM metal industry chain database

SMM News on July 7:

Silicon Metal

Prices

Last week, silicon metal futures prices fluctuated considerably, while spot prices held up well. As of last Friday, the price of oxygen-blown #553 silicon in east China ranged from 8,700 to 8,800 yuan/mt. According to the supply-demand balance, destocking was observed in Q2, while uncertainties remain in supply and demand for July. Attention should be paid to the operating status of top-tier enterprises.

Production

Recently, supply has decreased in the north and increased in the south. Yunnan entered the rainy season in July, leading to a small amount of capacity resumption. Overall, the reduction was more significant, and the weekly production of silicon metal decreased MoM last week.

Inventory

Social Inventory: According to SMM statistics, the total social inventory of silicon metal in major regions was 552,000 mt on July 3, up 10,000 mt WoW. Among them, the social general warehouse inventory was 126,000 mt, down 2,000 mt WoW, while the social delivery warehouse inventory was 426,000 mt (including unregistered warrants and spot parts), up 12,000 mt WoW. (Excluding Inner Mongolia, Gansu, etc.)

Polysilicon

Prices

At the weekend, the price of N-type recharging polysilicon was 36 yuan/kg, the N-type polysilicon price index was 35.6 yuan/kg, and the granular polysilicon quote was 34 yuan/kg. Polysilicon prices were largely stable at the weekend. Last week, polysilicon enterprises uniformly raised their quotes due to cost increases. Currently, it is not yet the order-signing period in the market, so prices are expected to remain stable with a wait-and-see attitude.

Production

Polysilicon production in June is expected to be around 100,000 mt. In July, multiple bases have shown mixed performance. Currently, it is expected that the total subsequent polysilicon production will increase, but the growth rate may be limited.

Inventory

Currently, polysilicon inventory still faces significant pressure, with the total polysilicon market inventory exceeding three months.

Module

Prices

Currently, the price spread in the module market has widened. The mainstream transaction prices for N-type 182mm modules in centralized projects range from 0.642 to 0.657 yuan/W, while those for N-type 210mm modules range from 0.657 to 0.672 yuan/W. The price of TOPCon distributed 182mm modules ranges from 0.666 to 0.679 yuan/W, and the price of distributed 210mm modules also ranges from 0.666 to 0.679 yuan/W. All the above prices include freight costs.

Production

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

Inventory

Currently, the module market has re-entered the inventory buildup cycle, with inventory buildup observed in 182&183 modules.

High-Purity Quartz Sand

Prices

Currently, the domestic prices for inner-layer sand range from 60,000 to 66,000 yuan/mt, middle-layer sand from 30,000 to 38,000 yuan/mt, and outer-layer sand from 17,000 to 22,000 yuan/mt. Recently, the prices of domestically produced high-purity quartz sand have declined, and the inventory of crucibles has accumulated somewhat, with limited demand. In addition, the prices of imported sand have also shown a downward trend recently, putting pressure on the prices of domestically produced sand. It is expected that prices will continue to decline in the future.

Production

Recently, domestic quartz sand enterprises have maintained stable operations, and there is still an expectation of surplus supply.

Inventory

The inventory of quartz sand enterprises has increased slightly. The demand for wafers has declined in July, and the willingness to purchase is limited.

PV Glass

Price

3.2mm single-layer coating: The quoted price for 3.2mm single-layer coated PV glass is 18-19 yuan/m², and the price remains stable for the time being.

3.2mm double-layer coating: The quoted price for 3.2mm double-layer coated PV glass is 19-20 yuan/m², and the price remains stable for the time being.

2.0mm single-layer coating: The quoted price for 2.0mm single-layer coated PV glass is 10.5-11 yuan/m². The price for new orders in July is still under negotiation, and it is estimated that the transaction price will not change significantly, with the mainstream transaction center moving downward.

2.0mm double-layer coating: The quoted price for 2.0mm double-layer coated PV glass is 11.5-12 yuan/m², and the price remains stable for the time being.

Production

Recently, there are still plans to block the mouths of domestic glass furnaces. A 750 mt/day furnace in Anhui is planned to cut production, and there is a 150 mt/day capacity blockage in Jiangxi, causing the market supply to continue to decline.

Inventory

The days of inventories in the industry have remained stable recently. Some module enterprises have plans to stock up appropriately in July, and it is expected that the actual trading volume will increase compared to the planned production.