Mainstream prices for mono-grade polysilicon keep rising, coming in at RMB 287-292/kg. Prices for recycled polysilicon scrape jumped to RMB 294-298/kg. Except for long-term contracts, orders are sealed at higher prices, but order volume is limited.
Polysilicon prices, already on a slow upward trend, markedly surge in July, as a result of excess demand and adverse impacts that hold back the growth of real polysilicon supply during July and August. Orders under long-term contracts between major manufacturers have been signed in the past two weeks. Actual production volume is limited, and new production capacities come online slowly. Doubled with a manufacturing accident that posed direct impacts on real production volume, polysilicon manufacturers have little inventory left for sporadic orders on the spot market other than long-term orders.
The ingot segment shows moderate price acceptance for the time being towards increased polysilicon prices, given raw material shortage and the necessity to continue production. Meanwhile, the wafer sector raises prices timely, in advance of raw material price hikes.
Investigation of InfoLink covers polysilicon prices at which orders have been delivered from the previous Thursday to this Wednesday and have been signed recently. We track mainstream prices and provide feedback for the industry. Therefore, changes and future price trend will gradually emerge during periods of higher order volume. Prices for sporadic orders are to be heeded.
Uncertainties dissipate over the market, as mainstream mono-Si wafer prices have settled for now. Tier-2 and Tier-3 wafer manufacturers keep prices close to the low-price range of leading manufacturers.
Mono-Si wafer manufacturers keep expanding production capacity while having difficulty raising utilization rates. This month, mono-Si wafer production volume is expected to see very little increase, sustaining at 26 GW, subject to raw material supply. With limited mono-Si wafer supply, prices in the upstream are not likely to drop in the short term.
Leading wafer manufacturer Zhonghuan released official pricings on June 24. Thicknesses of p-type wafers in all sizes are reduced to 150-155μm. Prices for 182mm mono-Si wafers with a thickness of 155μm are revised upwardly by RMB 0.44/piece to RMB 7.25/piece, a 6.4% increase. The 210mm/155μm format sees prices reaching RMB 9.55/piece, up by RMB 0.50/piece, a 5.5% increase.
Longi, another leading manufacturer, posted official pricings on June 30, raising prices for 182mm / 160μm mono-Si wafer by RMB 0.44/piece, to RMB 7.3/piece, a 6.4% price increase.
Some cell manufacturers issue power outage warnings due to heat alerts. Power rationing affects production volume of the month, but supply-demand relationship will remain intact in the short term. Supply for cells in mainstream formats is short. Future impacts require further observation.
Cell price trend appears steady this week, as supply and demand see little change. Trading prices for M6, M10, and G12 cells come in at RMB 1.24-1.25/W, RMB 1.25-1.26/W, and RMB 1.22-1.23/W, respectively. In overseas markets, prices dip briefly due to fluctuating exchange rates.
M10 cells are expected to see price hikes continue next week, whilst prices for cells in other formats hinge on wafer price trend and demand from the module sector.
Module makers start delivering a few new orders of July, with prices reaching above RMB 1.95-2/W this week. Overall, prices stagnate this month, as some makers are still delivering orders signed previously. For now, glass-backsheet modules rated beyond 500 W are delivered at RMB 1.9-2.02/W (inland transport costs excluded), and their glass-glass counterparts at RMB 1.92-2.05/W (inland transport costs excluded).
Module prices stay elevated, whilst price quotes rise ceaselessly to RMB 2-2.1/W. Against these backdrops, utility-scale projects suspend deliveries scheduled this month; some rental residential projects are also affected. This week, module makers sealed a few new orders at RMB 2/W, mostly with distributed projects. Mainstream trading prices step on a slow upward trip, coming in at RMB 1.95-1.96/W for glass-basksheet modules, and RMB 1.97-2.03/W for glass-glass ones.
Presently, prices stabilize in overseas markets, which are growing to accept higher price quotes offered previously. The Asia-Pacific market sees prices rise marginally, coming in at USD 0.27-0.275/W (FOB). In Australia, prices stay at last week’s level, sitting at USD 0.285-0.285/W. In the U.S., prices sustain at USD 0.33-0.38/W, and USD 0.55-0.58/W for locally made modules.
The European market sees greater changes as the euro experienced a slump, hitting parity with the dollar. Presently, glass-backsheet modules rated beyond 500 W are delivered at USD 0.265-0.28/W, and USD 0.28-0.285/W on the spot market. Module makers huddle over raising price quotes to USD 0.285-0.3/W. However, end users turn reserved again, and inventory draws slow down, as prices hit the USD 0.29/W threshold. Further price trend hinges on the outcomes of buyer-seller negotiations.
N-type cell and module
The market has yet to see many price quotes for n-type products, for which prices slightly increase on rising production costs. G12 HJT modules will be available by July or August.
Prices for M6 HJT cells sit at around RMB 1.4-1.45/W.
M10 and G12 TOPCon cells have not seen much trading by far, mostly purchased for in-house capacities, with prices coming in at RMB 1.3-1.36/W for the time being.
Module prices sustain this week, coming in at RMB 2.15-2.2/W for M6 HJT modules, and USD 0.29-0.33/W in overseas markets.
M10 and G12 TOPCon module prices stay where they were last week, at RMB 2-2.05/W for monofacial ones, RMB 2.05-2.08/W for bifacial ones, and around USD 0.28-0.3/W in overseas markets.