Like polysilicon prices, both mono-Si and multi-Si wafer prices remained flat. Despite the stable prices this week, the multi-Si wafer market will still witness slight decline in prices in November owing to the continuous weak demand. After mono-Si wafer price is adjusted last month, quotes in prices have been the same for each manufacturer. Overseas multi-Si wafer prices are even closer to Chinese prices. Basically, a price gap no longer exists between the two.
With polysilicon prices staying flat, price movement is limited for wafers. Only the multi-Si wafer market has witnessed weaker demand, allowing prices to drop further. At the same time, the mono-Si wafer market experienced slightly tight supply in November, but there’s basically no concern for supplies.
Slight adjustments were seen in both mono-Si and multi-Si wafer prices, as multi-Si wafers averaged RMB 2.1/pc in China. The lower price of multi-Si wafers is not only a result from the price decrease of polysilicon, but also from the insufficient demand.
Generally speaking, the multi-Si segment is seeing another low month in November; even the price for non-Chinese multi-Si wafers continues to go south. However, due to the low trading volume in non-Chinese markets, there is still a price difference between non-Chinese and Chinese multi-Si wafers, yet the non-Chinese price is estimated to keep leaning towards the Chinese price.
For mono-Si wafers, the final price of each company is different from one another due to difference in purchase volumes; therefore, announced prices are of little use for the time being. Here are this week’s prices for mono-Si low-resistance wafers: most mono-Si wafer makers averaged at RMB 3.05/pc, with the highest price being RMB 3.1/pc and the lowest RMB 3/pc. Prices lower than RMB 3/pc were spotted, but the higher demand in November and steady supply of mono-Si wafers make it unlikely to see another price cut in the near future.
It’s still difficult to obtain PERC cells in early-November. However, since the current PERC cell price has created a lot of pressure on module makers, the mono-Si PERC cell market has started to see stable prices. This week’s prices remained unchanged from last week’s.
Mono-Si PERC cell with an average efficiency is priced at RMB 1.12-1.16/W in China and US$ 0.145-0.146/W in the overseas. As of the high-efficiency cells requested by the “Top Runner Program”, 21.5%+ bi-facial PERC cell price stabilized at RMB 1.25/W this week. Meanwhile, 21.5%+ PERC cell generally reached RMB 1.16-1.20/W.
Although Taiwanese cell makers witnessed poor condition after Europe terminated the MIP, PERC cell prices have increased again due to the recent strong demand in Taiwan, reaching US$ 0.158-0.165/W.
It appears that the overall market demand in December will be weaker than November. The multi-Si cell market, particularly, still sees weaker demand, leading to lower shipment in December.
The seminar held on November 2nd gave China confidence again for next year. InfoLink believes that the global demand will rise to over 110GW next year. The PV industry will once again face a prosperous year. Yet, demand and prices will not be affected by the seminar in the short run. Therefore, module prices will remain stable in China, with module prices slightly declining in the overseas.
Judging from quarterly demand next year, unfinished projects within the “Top Runner Program” may have to rush to complete before the Lunar New Year. Due to the end of fiscal years in India and Japan, these two nations will continue to make a purchase. As a consequence, despite the weaker demand before Lunar New Year, the market will witness the weakest demand from after the Lunar New Year until strong demand hits China again. Therefore, the overall supply chain prices may reach the lowest point before and after April 2019. The PV market will see prosperous condition in 2H19.