The Chinese polysilicon market remains bustling this week, with polysilicon prices for multi-Si wafers increasing slightly and the supply of polysilicon for mono-Si wafers running a bit low. Overseas, polysilicon prices for multi-Si wafers have improved by USD 6.8/kg thanks to increased demand in China, and they have potential to rise further. In China, many signed polysilicon orders will all be delivered by the end of September or early October. Price quotes for these orders are high but limited existing supply has led to a low number of high-priced orders. Yet, when new orders are signed at the end of September, polysilicon prices may see marked increase.
Upstream, prices for polysilicon and wafers are trending upward because several suppliers of polysilicon for multi-Si wafers are undergoing maintenance, polysilicon orders will be ready for delivery before a long holiday break comes around in early October, and the market is picking up.
With China’s wafer prices for wafers and demand for polysilicon for multi-Si wafers both improving this week, wafer prices have risen slightly and many wafers are traded at RMB 1.81–1.85/piece. Low-priced wafers have increased in price, but high-priced ones have not. However, with a shortage of wafers in the market, wafer prices on the whole may keep rising in the future.
Overseas, wafer prices stay at USD 0.236/piece due to monthly adjustment. Mono-Si wafers supplied by top-tier manufacturers remain stable in price, whereas those provided by second-tier producers sell at RMB 3.05–3.08/piece due to market condition. Cast mono sells for RMB 2.7–2.75/piece in the Chinese market but has fallen to USD 0.35–0.355/piece overseas.
With module makers feeling the pressure from price decrease, price quotes for cells increased by RMB 0.03/W last week, but most cells sold at constant prices. However, this week, cell makers are receiving a growing number of orders, with some of the orders fetching higher prices and thus widening the difference in trade price.
Most cell orders are RMB 0.9–0.93/W in price. Moreover, as peak times are approaching, cell makers are seeing a constant stream of orders, and some have a full backlog for September. So, cell prices could improve further for the short term.
An analysis of the recent tenders and bids suggests that multi-Si cells would occupy 30% to 40% of the share of the Chinese market in Q4, sustaining the ongoing buying spree for these cells and allowing cell prices to increase a bit this week—although the market price hovers at RMB 0.81–0.82/W.
Demand for modules are stable overseas these days and, if it explodes in China, will become as robust in Q4 as predicted. But as Chinese module demand is expected to recover later than expected, manufacturers that have been running with high utilization rates are offering low bid prices to reduce their large stock. So, in the domestic market, module prices are RMB 1.85–1.9/W, whereas prices for multi-Si module hover at RMB 1.7/W.
Mono PERC modules were hit by a significant price drop in China; they also suffered a further decline in foreign prices, offering at USD 0.26/W for overseas markets.