China’s photovoltaic (PV) glass market has recently witnessed a further expansion in the supply-demand gap, leading to downward pressure on prices. As of June 6, the mainstream transaction price for 2.0mm coated PV glass stood at around CNY 12.5 yuan per square meter, marking a 3.85% month-on-month decline. Similarly, the price for 3.2mm coated PV glass was approximately CNY 20.5 yuan per square meter, down 2.38% from the previous month.
Recently, the operating rates of downstream module manufacturers have continued to decline. As production progresses, these companies are primarily making purchases based on demand, with insufficient order follow-ups. Meanwhile, the production of PV glass from operational kilns remains stable, resulting in a relatively abundant supply. At this stage, manufacturers are experiencing average sales, and inventories are showing an increasing trend. Downstream users are inclined to further push for lower prices, leaving some room for negotiation in certain transactions.
In the short term, there are no signs of improvement in domestic and international orders, and the supply-demand relationship in the market is expected to remain relatively stable, albeit with a weak market trend. In terms of prices, although current production is unprofitable and losses are widening, the continuous increase in inventories may lead some manufacturers to offer discounts to boost sales. Consequently, there is still potential for further price declines in certain segments.
