L R AS Published on Sunday 17 September 2023 - n° 457 - Categories:the prices
The photovoltaic industry
The photovoltaic industry: cell prices fall as a result of pressure from panel manufacturers
The supply-demand mismatch between the silicon and ingot sectors persists. The supply
shows no improvement this week. Some manufacturers are not managing to produce enough.
Prices for new orders are rising slowly. They are reaching RMB 78-89/kg (including tier 2 manufacturers), given the slow increase in supply and the varied execution of contracts between manufacturers. Some producers have signed their orders for September. Others are committed until the first half of October.
Wood chips :
While the price of 210mm wafers fell last week, cell manufacturers resumed their purchases after using up their stocks of wafers. Wafer prices are stabilising.
Transaction prices remain at last week's level, at 3.33-3.35 RMB/piece for M10 P wafers, and 4.25 RMB/piece for G12 wafers. The price of N-type wafers is between RMB3.45 and RMB3.47 a piece, and RMB4.47 a piece for M10 and G12 wafers.
As panel producers' acceptance of higher cell prices has reached its limits, cell prices are starting to fall. The price of G12 is holding steady at 0.73 RMB/W, due to the small number of suppliers and reduced production capacity.
The price of P-type M10 cells has fallen by between 1% and 3% to reach 0.72 RMB/W this week. The bottom of the range is 0.7-0.71 RMB/W. The price of G12 format remains at 0.73 RMB/W due to the reduced number of suppliers and reduced production capacity.
The price of M10 TOPCon cells fell back to 0.78-0.79 RMB/W. A spread of 0.06 to 0.07 RMB/W favours the N type to the detriment of the P type.
The price of G12 HJT cells, mainly for internal use and to a lesser extent for external sales, remains at 0.85 RMB/W.
Panel manufacturers are hoping for a reduction in cell prices. They hope to initiate price cuts in the upstream sectors in conjunction with panel price cuts, but they do not want to see cell prices fall, fearing that panels will extend their cuts as a result. There is a clear disparity in price trends across the supply chain. The midstream and downstream sectors continue to bide their time and negotiate. Next week, prices could continue to fall, improving the profitability of panels.
Some panel manufacturers believe that orders for which prices were previously adjusted to an extremely low level cannot be delivered. Some developers are considering relaunching calls for tender, which could affect purchases for certain projects. A modest recovery in demand for panels is nevertheless likely in September and October.
In Europe, spot prices are seeing less of a fall as order volumes rebound slightly, indicating that stock depletion is underway. Stock levels are still dependent on demand and the progress of deliveries.
The price of panels remains stable this week, but the price of new orders for September remains mixed. With insufficient upward momentum, panel prices are likely to stabilise.
Tier 1 manufacturers are delivering between 1.16 and 1.24 RMB/W for ground-mounted projects and between 1.15 and 1.25 RMB/W for distributed production projects. Some are even offering prices above 1.3 RMB/W. Tier 2 and Tier 3 manufacturers generally increase their prices by 0.01 to 0.02 RMB/W for cost reasons. Prices for glass-fibre panels are between 1.24 and 1.25 RMB/W. Trading volume is rather low due to limited end-user acceptance. Some panel manufacturers are adjusting their prices downwards as demand evolves.
Outside China, Chinese exporters are delivering products at between $0.15 and $0.165/W (FOB). In Europe, spot prices range from €0.145 to €0.165/W, with panels with a black backsheet having a premium of €0.02 to €0.025/W.
The price of N-type panels varies slightly. The average price of TOPCon panels stabilises between 1.12 and 1.33 RMB/W and delivery prices are between 1.25 and 1.35 RMB/W, with a difference of 0.05 to 0.1 RMB/W. In markets outside China, TOPCon panels are delivered at between $0.15 and $0.21, with a premium over PERC panels of between $0.008 and $0.01/W.
The price of HJT panels fell from RMB0.02/W to RMB0.03/W, reaching RMB1.4/W to RMB1.55/W in China. The price for spot sales was RMB 1.4/W, and RMB 1.36 to 1.38 for low-efficiency panels. On markets outside China, prices for HJT panels stabilised at between $0.195 and $0.2/W.
InfoLink of 13 September 2023