Polysilicon prices showed little change the first day after the May (Labor) Day holiday, staying at RMB 62/kg for mono-Si wafers and RMB 38/kg for multi-Si wafers. Polysilicon prices for mono-Si wafers may not change much until mid-May.
It is because producers are in the midst of delivering orders after the prices underwent marked adjustment in April and deals for May were clinched at the end of April.
Some operating multi-Si wafer producers closed up before the Labor Day break and even extended their holiday, thus suspending production and allowing their stocks to diminish. As demand for polysilicon for multi-Si wafers remained persistently weak, this week saw no new deals struck for polysilicon for multi-Si wafers like previous week.
Foreign polysilicon prices hovered at an average of USD 7.3/kg for mono-Si wafers and USD 5.8/kg for multi-Si wafers this week as transactions took place in modest numbers. On the supply side, several polysilicon producers are under maintenance program this month as a result of marked reductions in polysilicon prices. Although they are currently maintaining one (mostly old) production line after another, this will have some impact on polysilicon supply. So, foreign polysilicon prices should remain stable or even pick up for the short term.
*In response to changes in products, PV InfoLink provides price quotes for wafer based on M6 and stop offering quotes for M2 wafers starting May.
Multi-Si wafer prices had been low before the Labor Day break and they remained so following the break. The prices are trending downward. This week, multi-Si wafer prices were stable, sitting at a market price of RMB 1.1–1.25/piece and an average of RMB 1.2/piece as few producers clinched deals over the Labor Day break. Multi-Si demand has been driven further down by India’s extended lockdown to mid-May.
With demand in this major multi-Si market weakening, multi-Si wafer manufacturers will continue to slow down production or close up for the short term. If multi-Si wafer stocks are low and India lifts its nationwide lockdown in recent times, multi-Si wafer prices are likely to pick up in late May, despite with modest profits.
As end-market demand declined amid the COVID-19 pandemic, mono-Si wafer prices were adjusted twice in April alone, a far cry from the customary publication of the prices late in each month. This week’s mono-Si wafer prices stayed at RMB 2.6–2.82/piece for G1 and RMB 2.71–2.91/piece for M6, largely because Tier-1 producers stuck with their current prices.
Mono-Si wafer prices are likely to remain stable over the short term due to the inventory draw by cell producers amid the June 30 installation rush in China. Mono-Si wafer prices, particularly those for boron-doped wafers, may also recover among Tier-2 and 3 makers.
In response to changes in products, PV InfoLink provides price quotes for cell based on M6 and stop offering quotes for M2 cells starting May.
Following the Labor Day break, fewer deals were struck for mono-Si cells, whose prices for G1 and M6 were consistent this week with their previous levels, averaging RMB 0.79–0.8/W in China and USD 0.1/W in overseas markets. Meanwhile, mono-Si cell prices had shown signs of increase prior to the Labor Day break thanks to the June 30 installation rush, which was anticipated by the market.
And this week started to see deals clinched for high-priced cells sized in G1 and M6, both of which were priced at RMB 0.8–0.81/W. M2-sized cells, intended to be used for some of the delayed Chinese PV projects, will enjoy small price increase as there are plenty of requests for quotation and fewer production lines churn out such cells.
Looking ahead, overseas demand will take a longer while to pick up and it may not improve much during May–June. The June 30 installation rush will hold up cell prices only for a short period of time. With oversupply hindering a rebound in prices, cell prices will decline again after the installation boom slows.
Multi-Si cell prices stayed at RMB 2.4/piece this week as few contracts were signed during the Labor Day break. As India’s lockdown has been extended to mid-May, demand for multi-Si cells will remain weak for the short term and their prices will keep trending downward.
In response to changes in products, PV InfoLink provides price quotes for module based on M6 starting May.
Chinese demand is picking up with the return of the June 30 installation rush. But given the anticipated slack to be experienced during May-June in overseas markets, overall module demand has only made little improvement so far. At present, module makers receiving more orders in China to fill are faring relatively well. Although cell prices have started to climb, price quotes for modules keep declining.
The quotes are RMB 1.6–1.63/W for modules based on G1- and M6-sized cells and even come in at below RMB 1.6/W in some large auctions. At present, not much price difference exists between modules based on G1-sized cells and assembled with M6-sized cells.
Foreign module prices were USD 0.2–0.215/W, as the module size and price vary widely depending on the market and the timing of contract signing. Most of the modules to be shipped abroad in the second half of this year declined to USD 0.195–0.205/W.