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| Author | InfoLink |
| Updated | March 28, 2019 |
Poly Price
This week’s polysilicon prices declined further following the continuous increase in supplies. Meanwhile, multi-Si wafer demand keeps falling, and therefore polysilicon for multi-Si wafers are facing serious oversupply, leading to lower prices. Because the so-called “low-price” polysilicon mainly comes from traders’ product clearance and polysilicon of mixed sources, not many low-price polysilicon can be found in the market, allowing average market price to remain flat at above RMB 60/kg. So far, only a small amount of transactions for April has been made since downstream sectors are waiting to see whether prices will decline further or not.
Some market prices of polysilicon for mono-Si wafers reflected prices following the VAT cut, but most transactions will not be finalized until the end of this week as order for April remains unclear for many top-tier polysilicon makers and mono-Si wafer companies. Next week, Chinese polysilicon prices are expected to drop RMB 1-2/kg. Regarding overseas market, not many transactions have been made with limited changes in polysilicon prices for mono-Si wafers.
Wafer Price
Due to weak demand and lower polysilicon prices, multi-Si wafer prices reached RMB 2/piece and even lower in China this week. Prices will continue to go down following the lower polysilicon prices. Some multi-Si wafer manufacturers are likely to cut production in April. Overseas prices, on the other hand, stayed flat at US$ 0.275/piece. Although this price after converting into RMB is slightly better than Chinese quote in prices, prices may drop to a level similar to Chinese quote in prices owing to a continuous decline in overseas multi-Si wafer demand.
Regarding overseas mono-Si wafer, after Longi’s price was revised upward, price ranges have narrowed with the actual market price reaching US$ 0.423-0.43/piece. Since the mono-Si wafer market continued witness relatively stable demand this week, any changes in price quotes is mainly affected by VAT cut. Longi currently kept price at a pretax level, while Zhonghuan hasn’t announced prices yet. With no additional mono-Si wafer capacity as well as increasing demand in April, Whether Zhonghuan will adjust prices remains to be seen.
Cell Price
Lower VAT and weakened demand have led to a decrease in cell prices this week. Despite the high order visibility, total demand of mono-Si PERC cells has declined with prices dropping to RMB 1.2-1.22/W. Buyers and sellers are still negotiating cell order as wafer prices are not confirmed yet, but the cell market is likely to witness a slight decline in prices. In addition, due to VAT cut in China, the overseas market saw limited price drop, reaching US$ 0.16/W.
Multi-Si cell price currently stood at RMB 0.87/W and is expected to decline further following the weak multi-Si product demand.
Module Price
Weaker multi-Si product demand has led to a decline in multi-Si module prices and utilization rates. Not even top-tier manufacturers can achieve maximum order quantity. Although the mono-Si PERC module market saw strong demand from the overseas, the amount of orders received by second-tier is far less than top-tier manufacturers. Furthermore, the large price gap between mono-Si PERC and multi-Si modules resulted in a slight decline in mono-Si PERC module prices.