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Polysilicon prices stabilize amid maintenance shutdowns

Polysilicon prices have stabilized following recent declines, according to the latest data from China’s Silicon Industry Branch. This stabilization comes as multiple manufacturers have announced maintenance shutdowns, reducing market supply.

Source: Silicon Industry Branch of China; Chart: Solarbe Global

While the price range for n-type material slightly decreased, the overall average price remained unchanged. P-type material prices also held steady, and future prices are anticipated to stabilize temporarily.

Solarbe reports that the polysilicon market experienced low transaction activity this week, preventing significant price drops.

Given that current polysilicon prices are below the cash costs for some manufacturers and with potential increases in industrial silicon prices, many firms are initiating maintenance. This is expected to reduce May’s polysilicon output by 5,000 to 10,000 tons.

More companies, including leading firms, plan to begin maintenance in June, accelerating capacity clearance and improving the market’s supply-demand balance. Analysts believe that the profitability of polysilicon companies could improve in the third quarter.

In the wafer and cell sectors, prices continued to fall this week. According to Solarbe Consulting, the average price for 182 mm p-type mono wafers dropped significantly to CNY 1.22 per piece, a 14.1% decrease. Although current wafer inventories still need time to clear, the stabilization of polysilicon prices might slow the decline.

For cells, the drop in wafer prices has reduced n-type cell prices, narrowing the price difference between n-type and p-type cells. Currently, 182 mm mono cells are priced equally for n-type and p-type, with short-term prices expected to fall further.

Module prices also continued to drop this week. Leading module manufacturers have lowered their prices, with n-type module prices falling to below CNY 0.9 per watt and p-type to below CNY 0.8 per watt.

The recent decline in solar product prices has attracted attention from Chinese authorities. At the high-quality development seminar for the PV industry on May 17, it was emphasized that measures would be strengthened to combat malicious competition from below-cost sales and to shift away from low-bid winning scenarios to ensure stable growth in the PV market.

It is expected that with macro-control and market mechanisms, prices in the PV industry chain will become more rational and scientifically driven, with stable growth in annual installations.


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