- InfoLink’s polysilicon price quotes exclude additional costs from special specifications or requirements (e.g., traceability documentation). Currently, polysilicon with traceability data generally carries a quoted premium of RMB 3–5/kg.
- Polysilicon prices in dollar terms are prices for polysilicon with non-China origins in dollar terms, not translated from RMB prices.
Upstream sees signs of price slips; downstream remains constrained by rising silver costs
January 21, 2026
Polysilicon Negative news flow surrounding polysilicon from last week continues to weigh on the market. Coupled with the current off-season for demand and the fact that wafer makers are still holding
>3%
0~3%
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<-3%
| Item | High | Low | Average price | Change(%) | Change($) | Price prediction for next week |
|---|---|---|---|---|---|---|
| Polysilicon Price - Mono-grade polysilicon (USD) | 26.0 | 16.0 | 18.5 | -- | -- | |
| Polysilicon Price - Mono-grade polysilicon - US made (USD)🔒 | -- | -- | -- | -- | -- | |
| Polysilicon Price - Mono-grade polysilicon - Other non-China made (USD) (Germany, Malaysia, and other new regions, e.g. Oman)🔒 | -- | -- | -- | -- | -- | |
| Polysilicon Price - Mono-grade polysilicon (RMB) | 60.0 | 50.0 | 54.0 | -- | -- | |
| Polysilicon Price - Granular polysilicon (RMB) | 60.0 | 50.0 | 52.0 | -- | -- |
| Item | High | Low | Average price | Change(%) | Change($) | Price prediction for next week |
|---|---|---|---|---|---|---|
| Mono N Type Wafer - 182-183.75mm / 130µm (USD) | 0.183 | 0.170 | 0.183 | -- | -- | |
| Mono N Type Wafer - 182-183.75mm / 130µm (RMB) | 1.400 | 1.300 | 1.400 | -- | -- | |
| Mono N Type Wafer - 182*210mm / 130µm (RMB) | 1.500 | 1.400 | 1.500 | -- | -- | |
| Mono N Type Wafer - 210mm / 130µm (RMB) | 1.700 | 1.550 | 1.700 | -- | -- |
- InfoLink’s wafer price quotes exclude additional costs from special specifications or requirements (e.g., traceability documentation). Currently, wafers with traceability data generally carry a quoted premium of RMB 0.1–0.2/pc.
- Weekly spot price report for 182mm wafers and cells will be based on the 182-183.75mm format from June 2024 onwards due to market changes.
- Starting February 2025, spot price updates for 183mm n-type wafers in dollar terms will be introduced.
| Item | High | Low | Average price | Change(%) | Change($) | Price prediction for next week |
|---|---|---|---|---|---|---|
| Mono PERC Cell - 182-183.75mm / 23.1%+ (USD) | 0.090 | 0.045 | 0.047 | -- | -- |
- The high prices for M10 PERC and TOPCon cells is based mostly on those of Southeast Asian origins.
- Weekly spot price report for 182mm wafers and cells will be based on the 182-183.75mm format from June 2024 onwards due to market changes.
- Starting February 2025, the coverage of 210mm p-type cells will be discontinued.
- The public pricing for PERC cells in RMB will be cancelled from May 2025
| Item | High | Low | Average price | Change(%) | Change($) | Price prediction for next week |
|---|---|---|---|---|---|---|
| TOPCon Cell - 182-183.75mm / 25.3%+ (USD) | 0.120 | 0.054 | 0.056 | +3.7 | +0.002 | |
| TOPCon Cell - SEA made, China polysilicon - 182-183.75mm / 25.3%+ (USD)🔒 | -- | -- | -- | -- | -- | |
| TOPCon Cell - SEA made, non-China polysilicon - 182-183.75mm / 25.3%+ (USD)🔒 | -- | -- | -- | -- | -- | |
| TOPCon Cell - 182-183.75mm / 25.3%+ (RMB) | 0.430 | 0.400 | 0.420 | +5.0 | +0.020 | |
| TOPCon Cell - 182*210mm / 25.3%+ (RMB) | 0.430 | 0.400 | 0.420 | +5.0 | +0.020 | |
| TOPCon Cell - 210mm / 25.3%+ (RMB) | 0.430 | 0.400 | 0.420 | +5.0 | +0.020 |
- The high prices for M10 PERC and TOPCon cells is based mostly on those of Southeast Asian origins.
- TOPCon cell efficiency for spot price report will be adjusted to 24.7%+ from April 2024 onwards.
- TOPCon 182*210mm cells will be included from May 15,2024
- Weekly spot price report for 182mm wafers and cells will be based on the 182-183.75mm format from June 2024 onwards due to market changes.
- TOPCon 210*210mm cells will be included from June 19,2024.
- Prices for TOPCon cells will be based on an efficiency of 24.9%+ from August 14,2024.
- Prices for TOPCon cells will be based on a 25.0%+ efficiency due to production line optimization and efficiency improvement from October 23,2024.
- Prices for TOPCon cells will be based on a 25.3%+ efficiency due to production line optimization and efficiency improvement from August 6,2025.
🔒 InfoLink Spot Price Advanced Coverage: Pilot access now available upon request — Learn more.
| Item | High | Low | Average price | Change(%) | Change($) | Price prediction for next week |
|---|---|---|---|---|---|---|
| 182*182-210mm Mono TOPCon Module (USD) | 0.450 | 0.085 | 0.094 | +5.6 | +0.005 | |
| 182*182-210mm Mono TOPCon Module (RMB) | 0.800 | 0.690 | 0.717 | +1.0 | +0.007 | |
| TOPCon high-efficiency modules (640W and above) (USD)🔒 | -- | -- | -- | -- | -- | |
| 210mm Mono HJT Module (USD) | 0.100 | 0.090 | 0.094 | -- | -- | |
| 210mm Mono HJT Module (RMB) | 0.830 | 0.700 | 0.760 | -- | -- |
- Module prices in RMB terms are based on domestic price quotes and the average price is based on delivery prices of the week for distributed and centralized generation projects, excluding transportation costs. The high and low prices reflect prices of Tier-2 module makers or previous projects. Module prices in dollar terms are price quotes in non-China markets (before tax), not translated from RMB prices.
- Weekly spot price report for 182mm modules will be based on the 182*182-210mm format from June 2024 onwards due to the slim price gap among varying formats.
🔒 InfoLink Spot Price Advanced Coverage: Pilot access now available upon request — Learn more.
| Item | High | Low | Average price | Change(%) | Change($) | Price prediction for next week |
|---|---|---|---|---|---|---|
| 182*182-210mm/210mm TOPCon Module - Ground-mounted project | 0.720 | 0.660 | 0.685 | -- | -- | |
| 182*182-210mm/210mm TOPCon Module - Distributed project | 0.830 | 0.700 | 0.730 | +1.4 | +0.010 | |
| 182*182-210mm BC Module - Ground-mounted project | 0.810 | 0.760 | 0.780 | -- | -- | |
| 182*182-210mm BC Module - C&I project | 0.860 | 0.800 | 0.820 | -- | -- |
- Module prices in RMB terms are based on domestic price quotes and the average price is based on delivery prices of the week for distributed and centralized generation projects, excluding transportation costs. The high and low prices reflect prices of Tier-2 module makers or previous projects. Module prices in dollar terms are price quotes in non-China markets (before tax), not translated from RMB prices.
- Prices for Chinese project will be prices for TOPCon modules instead of PERC from April 2024 onwards.
- Weekly spot price report for 182mm modules will be based on the 182*182-210mm format from June 2024 onwards due to the slim price gap among varying formats.
- BC module prices in China will be added and split into ground-mounted and C&I segments from June 2025.
| Item | High | Low | Average price | Change(%) | Change($) | Price prediction for next week |
|---|---|---|---|---|---|---|
| TOPCon Module - India assembled (USD, FOB) | 0.150 | 0.140 | 0.145 | -- | -- | |
| TOPCon Module - India made cell & module (USD, FOB)🔒 | -- | -- | -- | -- | -- | |
| TOPCon Module - US assembled (USD, DDP) | 0.330 | 0.290 | 0.300 | -- | -- | |
| TOPCon Module - US made cell & module (USD, DDP)🔒 | -- | -- | -- | -- | -- | |
| TOPCon Module - US projects - SEA made (USD, FOB) | 0.290 | 0.250 | 0.270 | -- | -- | |
| TOPCon Module - Europe projects - China made (USD, FOB) | 0.110 | 0.085 | 0.090 | +3.4 | +0.003 | |
| BC Module - Europe C&I projects - China made (USD, FOB) | 0.145 | 0.097 | 0.115 | -- | -- | |
| BC All Black Module - Europe Residential projects - China made (USD, FOB) | 0.205 | 0.135 | 0.165 | -- | -- | |
| TOPCon Module - Europe Utility projects - China made (USD, FOB)🔒 | -- | -- | -- | -- | -- | |
| TOPCon Module - Middle East projects - China made (USD, FOB)🔒 | -- | -- | -- | -- | -- | |
| TOPCon Module - Asia-Pacific projects - China made (USD, FOB)🔒 | -- | -- | -- | -- | -- | |
| TOPCon Module - Latin America projects - China made (USD, FOB)🔒 | -- | -- | -- | -- | -- | |
| TOPCon Module - Africa projects - China made (USD, FOB)🔒 | -- | -- | -- | -- | -- | |
| TOPCon Module - Taiwan projects - SEA made (USD, FOB)🔒 | -- | -- | -- | -- | -- | |
| TOPCon Module - Taiwan made cell & module (USD, FOB)🔒 | -- | -- | -- | -- | -- | |
| TOPCon Module - Europe Residential projects - China made (EUR, FCA)🔒 | -- | -- | -- | -- | -- | |
| BC Module - Europe C&I projects - China made (EUR, FCA)🔒 | -- | -- | -- | -- | -- | |
| BC All Black Module - Europe Residential projects - China made (EUR, FCA)🔒 | -- | -- | -- | -- | -- |
- Module prices in RMB terms are based on domestic price quotes and the average price is based on delivery prices of the week for distributed and centralized generation projects, excluding transportation costs. The high and low prices reflect prices of Tier-2 module makers or previous projects. Module prices in dollar terms are price quotes in non-China markets (before tax), not translated from RMB prices.
- Non-China module price (by region): Stop reporting PERC module prices for projects in Australia and Europe, only report for India-made PERC modules and PERC modules for projects in the U.S. Addition: TOPCon module prices for projects in the U.S., Europe, and India from April 2024 onwards
- Weekly spot price report for 182mm modules will be based on the 182*182-210mm format from June 2024 onwards due to the slim price gap among varying formats .
- In India, domestically produced modules will be changed to TOPCon products, and the export price from China will be removed from May 2025.
- In the U.S., the public pricing for PERC modules will be cancelled, and the pricing for domestically produced TOPCon modules will be added from May 2025.
- In Europe, the public pricing for PERC modules will be cancelled from May 2025.
- In Eurpoe, the public pricing for BC modules (residential and C&I) will be added from June 2025.
🔒 InfoLink Spot Price Advanced Coverage: Pilot access now available upon request — Learn more.
Source：InfoLink Consulting