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In a new weekly update for pv magazine , OPIS, a Dow Jones company, offers a quick look at the main price trends in the global PV industry. Activity in the Chinese cell market calmed down, as most market participants stayed on the sidelines, unsure whether prices had bottomed out. Demand remained tepid as most market participants were not in an urgency to replenish loads. Most cell makers are cash-strapped, and while wafer prices have hit a record low, they have not been able to take advantage of the drop in prices to build up stocks, according to a market veteran. Integrated manufacturers that previously produced their own solar cells were now more inclined to source cells from the market, as purchasing them was cheaper than producing them in-house, the source added. Some cell manufacturers have turned to OEM manufacturing to maintain operating rates despite production losses. The OEM manufacturing fee of TOPCon M10 cells had fallen to 1.4 yuan ($0.19)/pc, which is below the production costs of 1.6 yuan/pc, a market veteran said. OPIS assessed FOB China Mono PERC M10 prices stable at $0.0390/W, FOB China Mono PERC G12 prices unchanged at $0.0414/W, while FOB China TOPCon M10 prices were assessed downward by 1.73% to $0.0398/W, week on week. Elevated inventories are expected to put further downward pressure on cell prices in the coming weeks, even as cell makers reduce operating rates in an attempt to restore balance between supply and demand. Additionally, module manufacturers are expected to further reduce their operating rates in June, which would result in lower demand for cells. Chinese cell production in May stood at 62 GW, according to the Silicon Industry of China Non-Ferrous Metals Industry Association. In the Chinese domestic market, Mono PERC M10 cells were priced at around 0.313 yuan/W, while TOPCon M10 cells were around 0.320 yuan/W, according to OPIS market research. OPIS, a Dow Jones company, provides energy prices, news, data and analysis on gasoline, diesel, jet fuel, LPG/LNG, coal, metals and chemicals, as well as renewable fuels and environmental commodities. In 2022 it acquired the pricing data assets of the Singapore Solar Exchange and now publishes the OPIS APAC Solar Weekly Report . |
