PV Module Production Schedules Further Weaken, Auxiliary Material Prices Decline across the Board

Solar Cell

Prices

Solar cell prices remained stable. Currently, high-efficiency PERC 182 solar cells (23.2% and above efficiency) are priced at 0.30-0.31 yuan/W; PERC 210 solar cells are priced at around 0.32-0.33 yuan/W; Topcon 182 solar cells (24.7% and above efficiency) are priced at around 0.28-0.31 yuan/W; Topcon 210RN solar cells are priced at 0.35-0.36 yuan/W.

Production

Some PERC cell production is gradually weakening, and some leading Topcon manufacturers have reduced their operating rates. Many battery makers are still in a wait-and-see mode and have not yet reduced their operations. Overall production in June is expected to be lower than in May.

Inventory

Battery makers' N-type inventory days are 5-15 days, while P-type inventory has gradually been reduced.

Modules

Prices

The mainstream transaction prices for centralized projects are as follows: PERC 182mm at 0.74-0.82 yuan/W, PERC 210mm at 0.76-0.84 yuan/W, N-type 182mm at 0.8-0.86 yuan/W, and N-type 210mm at 0.83-0.87 yuan/W. Module prices are largely stable with minor fluctuations.

Production

Due to changes in policy expectations and overall weak demand, module manufacturers slightly reduced production in May. In June, module manufacturers continued to reduce production, with Southeast Asian bases significantly adjusting operations due to export restrictions, opting to lower operating rates or halt production. Overall production is expected to be lower than 50GW.

Inventory

There are no significant signs of demand surges domestically or internationally, and module inventory pressure is gradually increasing. Domestic module inventory days are about 1-1.5 months.

PV Film

Prices:

EVA/POE for PV:

Currently, transactions of domestic EVA for PV have further decreased. For detailed prices of PV-grade EVA, please consult analysts. Cable-grade EVA prices remain at 10,300-10,600 yuan/mt; EVA for foaming continues to be priced at 10,500-10,800 yuan/mt. POE for PV C4 has been adjusted down to $2,270-2,370/mt, and C8 has been adjusted down to $2,400-2,500/mt.

PV Film:

The current mainstream prices for 420g transparent EVA film are 6.05-6.22 yuan/sqm, 420g white EVA film at 6.65-6.82 yuan/sqm, 380g EPE film at 6.95-7.33 yuan/sqm, and 380g POE film at 9.12-9.50 yuan/sqm.

Production

Current PV film production has been reduced, with some resin factories undergoing maintenance this month.

Inventory

Current petrochemical resin inventory has decreased, film resin inventory has increased, film factory inventory remains unchanged, and module film inventory has decreased. Resin procurement is mainly based on immediate needs.

Solar Inverter

Prices

This week's inverter price range: for 20kw products at 0.12-0.18 yuan/W, 50kw at 0.12-0.17 yuan/W, and 110kw at 0.11-0.16 yuan/W. Inverter prices have slightly decreased.

Production

Domestic and international downstream procurement demand remains stable overall. Domestic centralized procurement supports super power model orders, with companies maintaining or slightly increasing production schedules. Strong demand from Europe, the Middle East, and Africa ensures smooth shipments for companies.

PV Glass

Prices

3.2mm single-layer coated: 3.2mm single-layer coated PV glass is priced at 25.5-26.5 yuan/sqm, prices are lower.

3.2mm double-layer coated: 3.2mm double-layer coated PV glass is priced at 26.5-27.5 yuan/sqm, prices are lower.

2.0mm single-layer coated: 2.0mm single-layer coated PV glass is priced at 16.5-18.0 yuan/sqm, prices are lower.

2.0mm double-layer coated: 2.0mm double-layer coated PV glass is priced at 17.5-19.0 yuan/sqm, prices are lower.

Production

Since June, there have been no new kiln ignitions domestically, with previously-commenced kilns slowly increasing production. Supply continues to increase.

Inventory

Glass inventory has risen again, with some manufacturers' inventory days reaching nearly 30 days, creating significant inventory pressure. However, with continued weakening demand for modules, glass inventory is expected to rise slightly.