Polysilicon price hikes persist. Major manufacturers sealed long-term orders earlier this month, but prices for sporadic orders continue rising. Trading prices for mono-grade polysilicon keep going up recently. However, overall price range widens. Sporadic orders are delivered at different price levels ranging from RMB 292/kg to RMB 307/kg, though order volumes are 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.
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.
Mainstream prices for mono-Si wafers stabilize for the time being. Tier-2 and Tier-3 wafer manufacturers keep prices close to the low-price range of leading manufacturers. However, rumors circulate across the market recently that wafer prices will advance further. This reflects current market sentiment and inconsistent attitudes between buyers and sellers. Changes in wafer prices at the end of the month are to be heeded.
Mono-Si wafer production volume will show very little increase this month, sustaining at 25-26 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.
Future wafer price trend will still correlate with that of polysilicon.
Sellers and buyers remain in standoffs this week. Mainstream prices for M10 cells pick up marginally, with delivering prices reaching RMB 1.25/W, and new orders being sealed at RMB 1.26/W. Power rationing due to heat waves affects production, intensifying the excess demand. G12 cell supply becomes tight.
Cell prices are little change this week. 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.
M10 cell prices are expected to inch higher, with no sign of decline in recent months. Cell manufacturers await new wafer pricings to be posted at the end of the month.
This week, glass-backsheet modules rated beyond 500 W are delivered at RMB 1.9-2.05/W (inland transport costs excluded), and their glass-glass counterparts at RMB 1.92-2.05/W (inland transport costs excluded).
Few new orders are delivered in July. Prices for new orders sustain. This week, more and more deliveries are postponed, and contracts canceled. New orders are delivered at RMB 1.95-2/W this month. Some module makers sealed orders at RMB 2/W, mostly with distributed projects.
Mainstream trading prices step on a slow upward trend, coming in at RMB 1.95-1.97/W for glass-backsheet modules, and RMB 1.98-2/W for glass-glass ones. There are purported breaches of contracts that are signed at prices lower than RMB 1.95/W. Most deliveries at the low-price range of RMB 1.9-1.93/W are mid and small-scale makers delivering previous inventories.
Prices stabilize in overseas markets. The Asia-Pacific region sees prices rise marginally, coming in at USD 0.267-0.275/W (FOB). In Australia, prices stay at last week’s level, sitting at USD 0.28-0.285/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.
Exchange rate of the euro stabilizes for now. Presently, glass-backsheet modules rated beyond 500 W are delivered at USD 0.265-0.285/W, and USD 0.285-0.29/W on the spot market. Price quotes for new orders in August continue increasing but may lose momentum in the future. The European market appears rather reserved. Future price trend hinges on the outcome of seller-buyer negotiations.
N-type cell and module
The market has yet to see many price quotes for n-type products. G12 HJT modules are expected to be available by the end of the third quarter.
Prices for M6 HJT cells sit at around RMB 1.36-1.45/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 1.3-1.37/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 0.285-0.33/W in overseas markets.
M10 and G12 TOPCon module prices stay where they were last week, at RMB 2.06-2.11/W for monofacial ones, RMB 2.09-2.15/W for bifacial ones, and around USD 0.28-0.31/W in overseas markets.