Module Price Reduction Stimulates Pick-Up; Battery Inventory Levels Rise [SMM Silicon-Based PV Morning Meeting Summary]

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SMM, January 16:

Solar Cell

Prices

High-efficiency PERC 182 solar cells (efficiency of 23.2% and above) are priced at 0.325-0.34 yuan/W; there is no transaction volume in the PERC 210 solar cell market.

Topcon 183 solar cells (efficiency of 25% and above) are priced at approximately 0.285-0.295 yuan/W; Topcon 210RN solar cells are priced at 0.275-0.285 yuan/W; Topcon 210 solar cells are priced at 0.285-0.295 yuan/W.

Mainstream products of HJT 210 half-cell are priced at 0.36-0.38 yuan/W.

Production

Some integrated manufacturers' solar cell bases have gradually started holidays, while most specialized solar cell manufacturers maintain their operating rates.

Inventory

Leading solar cell manufacturers have low inventory levels, and due to recent production cut plans, inventory is still expected to decrease this month.

Modules

Prices

In the current module market, mainstream transaction prices for centralized projects are 0.63-0.68 yuan/W for PERC 182mm, 0.64-0.69 yuan/W for PERC 210mm, 0.64-0.69 yuan/W for N-type 182mm, and 0.65-0.7 yuan/W for N-type 210mm. The mainstream transaction price range remains stable. During the off-season, order volumes have significantly decreased, and some companies have lowered prices to stimulate cargo pick-up.

Production

Recently, some companies have continued to reduce operating rates or shut down production lines. January's actual production is expected to decline further compared to forecasts, while February's operations are expected to remain stable, with many orders accumulated for delivery in March.

Inventory

Starting this week, solar cell inventory has begun to increase, with shipments decreasing in the second half of the month.

PV Film

Prices:

EVA/POE PV Materials:

PV-grade EVA is currently priced at 10,400-10,700 yuan/mt. PV-grade POE transactions are priced at 12,000-14,000 yuan/mt.

PV Film:

The current mainstream price for 420g transparent EVA film is 5.29-5.46 yuan/m², 420g white EVA film is 5.67-6.05 yuan/m², 380g EPE film is 5.79-5.89 yuan/m², and 380g POE film is 6.84-7.22 yuan/m².

Production

In January, the planned production of PV-grade EVA is approximately 100,000 mt. In December, domestic PV film production was about 350 million m².

Inventory

As the Chinese New Year approaches, PV film manufacturers are gradually starting holidays, stockpiling activities are nearing completion, and the reduction in PV-grade EVA inventory has slowed.

Inverter

Prices

This week, inverter prices are as follows: 20kW at 0.12-0.16 yuan/W, 50kW at 0.11-0.15 yuan/W, 110kW at 0.1-0.14 yuan/W, and 320kW at 0.09-0.11 yuan/W. Inverter prices remain stable.

Supply and Demand

On the supply side, production remains stable and sufficient. Overall demand is mediocre, with large power string and centralized models accounting for most shipments.

Prices

3.2mm Single-Layer Coating: 3.2mm single-layer coated PV glass is priced at 19.5-20.5 yuan/m², with prices remaining stable.

3.2mm Double-Layer Coating: 3.2mm double-layer coated PV glass is priced at 20.5-21.5 yuan/m², with prices remaining stable.

2.0mm Single-Layer Coating: 2.0mm single-layer coated PV glass is priced at 11.5-12.5 yuan/m², with prices remaining stable.

2.0mm Double-Layer Coating: 2.0mm double-layer coated PV glass is priced at 12.5-13.0 yuan/m², with prices remaining stable.

Production

In January, domestic production fell short of expectations. With an increase in cold-repair furnaces, the total glass supply for January is expected to be less than 40GW.

Inventory

In terms of inventory, as some downstream companies have already stopped production for holidays, glass demand has started to decline, leading to a slight increase in inventory levels for enterprises.