The upward momentum for wafer prices is relatively strong, and the transaction prices of solar cells have risen [SMM Silicon-based PV Morning Meeting Summary]

SMM reported on July 15:

Wafer

Prices: The market price for N-type 18X wafers is 1 yuan/piece; the price for 210R wafers is 1.15 yuan/piece. Wafer prices have stabilized at current levels, with widespread market transactions. Solar cell plants are actively picking up goods, and some producers indicate there is still upward momentum for price increases.

Production: Domestic wafer production in July is estimated at around 50GW. Some top-tier enterprises have further reduced production midway. Currently, there is strong upward momentum for wafer prices, and wafer profits are expected to recover.

Inventory: Wafer inventories have recently seen a significant decline. Solar cell pick-up enthusiasm has been high in the past week, with substantial market transactions, leading to a corresponding decline in wafer inventories.

Solar Cell

Prices: The price for high-efficiency PERC182 solar cells (with 23.2% efficiency or higher) is 0.26-0.275 yuan/W. Prices fluctuate due to upstream wafer market conditions. Topcon183N solar cells (with 25% efficiency or higher) are traded at 0.23-0.245 yuan/W; Topcon210RN and 210N are traded at 0.24-0.26 yuan/W. Currently, the highest quotes for the three sizes remain at 0.25/0.265/0.265 yuan/W, driving transaction prices up to 0.245/0.26/0.26 yuan/W. HJT30% silver-coated copper (with 25% efficiency or higher) has recently stabilized at 0.35-0.36 yuan/W. Prices have increased due to market demand fluctuations and cost control. HJT direct sales are generally low, with integrated manufacturers being self-sufficient.

Production: The global production schedule for Chinese enterprises in July is 53-54GW, down 3% MoM. Supported by remaining installation rush orders, the overall production cuts are relatively small. The production schedule for 210RN has increased to over 40% of the total TOPCon production.

Inventory: Some enterprises have slowed outflows from warehouses to support price increases. As a result, the market has continued to experience inventory buildup.

PV Film

Prices

PV-grade EVA: The current price for PV-grade EVA is 9,500-9,750 yuan/mt. PV-grade POE is traded at 11,000-14,000 yuan/mt.

PV Film: The current mainstream prices for 420g transparent EVA film are 5.04-5.17 yuan/m², for 420g white EVA film are 5.54-5.67 yuan/m², for 380g EPE film are 4.94-5.02 yuan/m², and for 380g POE film are 6.69-6.84 yuan/m².

Production: The production schedule for PV-grade EVA in July increased by 0.24% MoM, while the production schedule for PV film decreased by 1.87% MoM.

Inventory: Recently, some film enterprises have replenished their stocks, leading to gradual destocking of EVA. Some petrochemical enterprises have switched to maintenance, gradually tightening the overall supply of EVA.

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