Polysilicon manufacturers continue releasing new production capacities. However, as of April, actual production volume only sees limited growth, owing to line inspection plans of several manufacturers. New production capacities come online at various paces. Imbalanced relationship between polysilicon supply and demand from the ingot segment can hardly improve.
Trading is vigorous this week. Prices for mono-grade polysilicon rise to RMB 243-248/kg, with average trading prices between major manufacturers advancing to RMB 247/kg. Prices for long-term orders accordingly increase, whilst trading prices of sporadic orders see bigger hikes, coming in at RMB 251-253/kg.
Some ingot manufacturers failed to acquire sufficient polysilicon for production, given ceaseless polysilicon price hikes. In the meantime, pandemic outbreaks and regulations in China affect long-distance transportation, resulting in short material supplies for every sector. Against these backdrops, supply-demand disproportionate in the upstream exacerbates.
Mono-Si wafer prices rise, with both leading manufacturers and their Tier-2 counterparts publishing higher pricings.
Longi updated pricings on the night of April 13, raising prices for 182mm wafers with a thickness of 165μm by RMB 0.12/W, from RMB 6.7/piece to RMB 6.82/piece, a 1.8% increase. Prices for other formats remain unchanged for the time being.
On April 2, Zhonghuan revised pricings for the 182mm / 160μm, 166mm / 160μm, and 210mm / 160μm formats upwardly to RMB 6.79/piece, RMB 5.64/piece, and RMB 9.05/piece, respectively, translating to 2-3% of increases.
Longi’s mono-Si wafer pricings were at the bottom of market price range. Therefore, after the latest update, other mono-Si wafer manufacturers raise prices successfully. Overall, price level continues elevating.
Mono-Si wafer prices have been on a gradual upward trip since earlier this year. Presently, the 182mm / 165μm format has seen price quote as high as RMB 6.85/piece, meaning that current prices have exceeded the RMB 6.81/piece peak in October 2021.
Downstream acceptance requires further observation. Spot prices here will be posted with market’s mainstream thickness, as wafer manufacturers offer price quotes with smaller and smaller thicknesses.
Cell prices advanced this week, as escalating pandemic disrupts wafer and screen shippings. Presently, price quotes for M6, M10, and G12 cells come in at RMB 1.12/W, RMB 1.16/W, and RMB 1.17/W, respectively. Actual trading prices await negotiations with module makers. Several module makers have begun to accept RMB 1.1-1.11/W for M6, RMB 1.15-1.16/W for M10, and RMB 1.16-1.17/W, resulting in upticks in average prices this week.
Having fallen out of mainstream, M6 cells see sluggish demand; future price trend will fluctuate with production costs. Prices for the mainstream M10 cells gain this week, sitting at RMB 1.15-1.16/W, as module makers keep fair utilization rates to secure supply, underpinning cell demand. Some rush orders are delivered at RMB 1.16/W. In accordance with rising production costs, price quotes for G12 cells may reach beyond RMB 1.16-1.17/W this week.
Prices for multi-Si cells rise in accordance with higher production costs, standing at RMB 3.75-3.95/W, and USD 0.53-0.55/piece in overseas markets.
The pandemic wears on in China, hitting hard on logistics. The logistical bottleneck makes it difficult for end users to access modules and intensifies inverter shortage.
Module makers still buy raw materials actively, in fear that supply will be disrupted in the future. For now, some makers have seen glass and junction box shortages. Against these backdrops, BoM prices increase accordingly. EVA prices may rise in the second half of April.
Utility-scale projects initiate this week and see module price upticks, which may affect average prices next week. Presently, prices for large-format glass-backsheet modules sit at RMB 1.85-1.87/W, averaging at RMB 1.87/W, for utility-scale projects, and RMB 1.9-1.93/W, averagely RMB 1.9/W, for distributed projects. Mainstream prices for glass-glass modules rated beyond 500 W come in at RMB 0.02-0.04, with stable price differences.
In Europe, prices for sporadic orders slightly increase to USD 0.29-0.23/W. But prices for glass-backsheet modules rated beyond 500 W stay at USD 0.27-0.275/W. Residential distributed projects see coming in at USD 0.28-0.29/W.
The Asia-Pacific region sees module prices stabilize for the time being, sitting at USD 0.26-0.266/W for glass-backsheet modules rated beyond 500 W. Price quotes may reach USD 0.27/W. In Australia, module prices sit at USD 0.275-0.29/W.
Sales prices in the U.S. sit at USD 0.33-0.35/W (FOB), for there is not much delivery from Southeast Asia due to logistical bottlenecks. Local sales prices mildly increase, coming in at USD 0.5-0.55.
N type cell and module price
There have yet to be many price quotes for n-type products, for which prices sit at RMB 1.25-1.35/W for the time being. M10 and G12 TOPCon cells have not seen much trading by far, with prices coming in at RMB 1.2-1.25/W for the time being.
Prices for M6 HJT modules sit at RMB 2.05-2.1/W for now. In overseas markets, price differences between M6 HJT and Mt6 PERC modules increase to USD 0.05-0.06/W, subject to slightly higher exchange rates.
M10 and G12 TOPCon module prices come in at RMB 1.92-2.03/W, with USD 0.015-0.025/W of price differences, as compared to M10 and G12 PERC modules in overseas markets.