Modules
Module prices rose this week. Utility-scale prices:
- TOPCon 210 Bifacial: ¥0.655/W
- TOPCon Rectangular Bifacial: ¥0.655/W
- HJT Rectangular Bifacial: ¥0.715/W
Supply-Demand Dynamics:
- End-user demand shows no signs of recovery.
- Module manufacturers’ operating rates remain stable, with August output expected to mirror July.
Exports:
- June PV module exports: ~19.22GW (↓6.7% MoM, ↓14.7% YoY).
- Average export price: $0.10/W (flat MoM).
- Jan-Jun total exports: ~119.21GW.
Price Trends:
- Module prices continued rising, driven by upstream polysilicon, wafer, and cell cost increases.
- The Price Law Amendment Draft (July 24) explicitly bans below-cost sales, accelerating industry-wide price hikes.
- Lagged cost transmission from silicon has weakened; cell price surges further pushed up module costs.
- Outlook: Moderate price increases expected next week.
Polysilicon / Wafers / Cells
Polysilicon:
- Prices rose this week:
- N-Type Retech: ¥47,100/ton (avg.)
- N-Type Dense: ¥43,900/ton
- N-Type Granular: ¥44,300/ton
- Supply-Demand: Tier-1 producers maintain output controls, but Tier-2/3 restarts may boost August supply, capping gains. Wafer producers plan output hikes after profit recovery, supporting silicon demand. However, weak module price pass-through and project sensitivity to high costs constrain actual demand.
- Outlook: Moderate price increases next week.
Wafers:
- Prices rose:
- N-Type 210: ¥1.55/pc
- N-Type 182*210mm: ¥1.35/pc
- Supply-Demand: Wafer operating rates hit record lows (Tier-1: 40–50%), with inventories significantly reduced. Cell makers restocked amid “buy-high” sentiment.
- Outlook: Prices to keep rising but at a slower pace due to easing cost pressures and slight supply recovery.
Cells:
- Prices rose:
- N-Type TOPCon 210 Mono: ¥0.27/W
- N-Type TOPCon 210R Mono: ¥0.27/W
- Supply-Demand: Cell inventories dropped to lows; July output ~57GW. Stronger pricing power observed.
- Outlook: Mild increases next week, but narrowing due to slowing cost transmission and nearing terminal acceptance limits.
Notes:
- Data compiled by Solarbe Consulting. Prices are averages. For inquiries, please contact us—discussions welcome.
- Solarbe Consulting updates industry chain price trends every Wednesday/Thursday. Stay tuned!
