Battery Production Schedule Surged in March, Distributed Module Prices Increased Again [SMM Silicon-Based PV Morning Meeting Summary]

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SMM, February 27:

Solar Cell

Prices

High-efficiency PERC 182 solar cells (efficiency of 23.2% and above) were priced at 0.325-0.33 yuan/W, with a slight decline in high-end prices; there were no transactions in the PERC 210 solar cell market.

Topcon 183 solar cells (efficiency of 25% and above) were priced at approximately 0.29 yuan/W; Topcon 210RN solar cells were priced at 0.29 yuan/W; Topcon 210 solar cells were priced at 0.29-0.295 yuan/W, with prices slightly increasing.

Mainstream HJT 210 half-cell products were priced at 0.36-0.38 yuan/W, with prices temporarily stable.

Production

The supply side of solar cells in March saw a significant increase, with planned production rising by approximately 19%, mainly driven by growing demand.

Inventory

After new orders were finalized, solar cell shipments began to increase, and inventory showed a downward trend.

Modules

Prices

In the current module market, the mainstream transaction price for centralized PERC 182mm modules was 0.64-0.68 yuan/W, for PERC 210mm modules was 0.65-0.69 yuan/W, for N-type 182mm modules was 0.65-0.68 yuan/W, and for N-type 210mm modules was 0.66-0.69 yuan/W. Topcon distributed modules saw an increase of 0.02-0.03 yuan.

Production

Overall, February's production schedule saw a slight decline MoM, with many orders accumulated for delivery in March.

Inventory

Currently, market shipments have improved, distributed rush installation orders have emerged, and residential demand is favorable.

PV Film

Prices:

EVA/POE PV-Grade Materials:

PV-grade EVA is currently priced at 11,300-11,650 yuan/mt. PV-grade POE transactions were 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, for 420g white EVA film is 5.67-6.05 yuan/m², for 380g EPE film is 5.79-5.89 yuan/m², and for 380g POE film is 6.84-7.22 yuan/m².

Production

In February, the planned production of PV-grade EVA was approximately 1.1 million mt. Domestic PV film production in February was approximately 330 million m².

Inventory

This week, petrochemical plant inventories were relatively low, spot supply remained tight, and with many planned maintenance activities, inventories are expected to remain at low levels.

Inverter

Prices

This week, inverter price ranges were 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 remained stable.

Supply and Demand

The supply side maintained stable and sufficient production, procurement demand gradually recovered, and shipments of large-power string and centralized models were significant. March may see a rush for installations, driving inverter shipments.

Prices

3.2mm Single-Layer Coating: The price of 3.2mm single-layer coated PV glass was 21-23 yuan/m², with prices increasing.

3.2mm Double-Layer Coating: The price of 3.2mm double-layer coated PV glass was 22-24 yuan/m², with prices increasing.

2.0mm Single-Layer Coating: The price of 2.0mm single-layer coated PV glass was 13-14 yuan/m², with prices increasing.

2.0mm Double-Layer Coating: The price of 2.0mm double-layer coated PV glass was 14-15 yuan/m², with prices increasing.

Production

This week, the second batch of kiln sealing production lines in China resumed operations, and glass supply in March is expected to increase again, reaching approximately 48GW.

Inventory

This week, domestic glass inventories declined, with some top-tier enterprises seeing a decrease in inventory days by nearly 8 days, and second-tier enterprises also experiencing inventory reductions.