Glass Price Raised, Cell Producer Offers Rise [SMM Silicon-based PV Morning Meeting Summary]

SMM August 6 News:

Solar Cell

Price

Today, solar cell market quotations were broadly raised, expectations for price hike intensified, and multiple producers raised their quotations. The quotation range for 183 was 0.27-0.275 Yuan/W, and 210N and 210R were raised to 0.26-0.265 Yuan/W. However, downstream module procurement followed weakly, with a clear divergence between quoted and actual transaction prices; high prices have not yet been verified by actual orders. The market outlook will depend on downstream order performance; if high-price transactions are settled, there is upside room for prices; if orders are insufficient, quotations may pull back again.

Production

In August, the industry's expected production schedule was slightly lowered compared to July, as some producers, foreseeing weak demand in August, voluntarily curbed output. Subsequent actual operating conditions still need continuous monitoring.

Inventory

This week, the industry's inventory base remained at a relatively high level, and the previous destocking pace slowed down. 183 still maintained a low inventory, supporting prices; while inventory pressure for 210R and 210N persisted, limiting the degree of price recovery for these sizes. Before substantial volume orders are absorbed, the overall destocking pressure has not been fundamentally alleviated.

Module

Price

This week, China's module prices remained temporarily stable, but recently, due to upstream raw material suppliers holding back from selling, module enterprises' quotations showed a stirring trend, with some integrated enterprises discussing raising prices. However, this has not yet materialized. Distributors have recently appropriately promoted downstream buying sentiment, but price games still exist, and whether actual prices can rise is not yet fully determined. Currently, distributed Topcon 183, 210R, and 210N high-efficiency modules are quoted at 0.712 Yuan/W, 0.720 Yuan/W, and 0.7265 Yuan/W, respectively; centralized Topcon 182/183, 210N, and 210R modules are quoted at 0.7065 Yuan/W, 0.7165 Yuan/W, and 0.710 Yuan/W, respectively.

Production

In August, modules' expected production schedule edged up slightly from July, driven by a slight increase in export orders and domestic project deliveries.

Inventory

This week, module inventories in China basically remained stable. After the previous inventory increase, downstream enterprises made small purchases driven by sentiment this week.

PV Film

Price:

EVA/POE PV Material:

Currently, the mainstream transaction range for spot PV-grade EVA resin in China is 10,200-10,300 yuan/mt, and resin prices remain temporarily stable. This week, the weekly settlement price of leading petrochemical plants remained unchanged, and other petrochemical plants' quotations also anchored at the mainstream transaction range, with no price adjustment actions. The recent easing of US-Iran tensions caused international oil prices to pull back in volatile trading, removing further upward support for EVA raw material costs. Meanwhile, multiple domestic units are gradually switching to PV-grade material, and PV-grade EVA supply is expected to continue improving. In the short term, PV-grade EVA prices are expected to consolidate.

PV Film:

Currently, the price of 420g transparent EVA film is 5.42-5.5 yuan/m², and the price of 380g EPE film is 5.28-5.36 yuan/m². This month's film monthly long-term agreement prices have been basically finalized, with leading module manufacturers' monthly long-term contract prices remaining stable, and spot orders are conducted on a one-order-one-negotiation basis. Recently, upstream PV-grade EVA resin prices remained stable in the short term, and film spot order quotations have not seen significant changes.

Production

This week, PV-grade EVA production edged up slightly due to some units switching to PV-grade material. Film manufacturers' August production schedules are expected to increase by about 6%-7% MoM from July.

Inventory

Currently, petrochemical plants' inventory remains at low levels, with output prioritized for long-term contracts, resulting in limited spot cargo available in the market. Film manufacturers' inventory pressure is generally manageable.

PV Glass:

Price

3.2mm single-layer coating: 3.2mm single-layer coated PV glass is quoted at 15.5-16 yuan/m², and glass prices rose.

3.2mm double-layer coating: 3.2mm double-layer coated PV glass is quoted at 16.5-17 yuan/m², and glass prices rose.

2.0mm single-layer coating: 2.0mm single-layer coated PV glass is quoted at 9.0-10.0 yuan/m², and this week glass prices were raised. By early August, basic glass enterprises had raised their quotations to 9.5 yuan/m² and above, resulting in a full rebound in prices, though some enterprises still offered concessions in transactions.

2.0mm double-layer coating: 2.0mm double-layer coated PV glass is quoted at 10-11 yuan/m², and glass prices rose.

Production

This week, there were no new cold repairs or shutdowns in domestic kilns. Due to the accelerated pace of previous production cuts, August glass output is expected to drop significantly.

Inventory

Domestic glass inventory levels have seen a pullback, as module enterprises have engaged in stockpiling. However, due to the limited rise in downstream production schedules, procurement volumes still fell short of expectations.