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In a new weekly update for pv magazine >, OPIS, a Dow Jones company, offers a quick look at key pricing trends in the global photovoltaic industry. FOB cell prices in China declined this week amid weaker market fundamentals, according to OPISs weekly solar report. TOPCon M10 cell prices fell 0.82% week-over-week to $0.0362/W, while Mono PERC M10 cell prices fell 0.52% to $0.0382/W. Mono PERC G12 cell prices remained steady at $0.0363/W. The average price of TOPCon M10 cells in China was 0.282 yuan (0.039 USD)/W, with prices ranging from 0.270 yuan/W to 0.300 yuan/W. Domestic prices of M10 mono PERC cells ranged from 0.290 yuan/W to 0.310 yuan/W, with an average of 0.300 yuan/W, while those of G12 mono PERC cells averaged 0.285 yuan/W, with a range of 0.280 yuan/W to 0.290 yuan/W. TOPCon cell prices fell for the third consecutive week, weighed down by weak end-user demand due to the implementation of the 430 policy in China and recent weakness in both wafer and module prices. Industry sources expect end-user demand to remain subdued in the near term, following a period of early module installations over the past two months, during which Chinese cell production levels remained high. According to an OPIS survey, Chinese cell production was elevated between March and April, with major manufacturers operating at over 70% utilization, while second- and third-tier producers maintained levels around 50%. However, the outlook for May has deteriorated. Tier 1 manufacturers are expected to reduce their utilization rates to below 60%, while smaller ones could fall below 30%. In line with these trends, sources report that projected production has been revised downward, from 64 GW in April to around 58 GW in May, with further cuts likely amid continued weakness in the downstream market. Looking ahead, industry sources suggest that pricing trends may start to diverge between different N-type cell specifications. Chinese cell producers are reportedly focusing on promoting TOPCon 210R (182*210 mm) cells, which could increase supply and put additional downward pressure on prices for this specification. Although OPIS has not yet begun assessing the FOB price of these cells in China—due to their limited adoption in the overseas market—industry sources indicate that domestic production of this format has already captured more than 30% of the market share in China. According to trade information, the domestic headline price for TOPCon 210R cells is approximately 0.265 yuan/W this week, a significant drop from 0.310 yuan/W the previous month. In contrast, the supply of TOPCon M10 cells may be lower due to reduced production levels, suggesting that the price decline for this specification could be more moderate in the near term. Outside of China, in addition to the advance of domestic cell manufacturing in the US, global cell manufacturing strategies are increasingly geared toward ensuring low- or tariff-free access to the US market. Malaysia, Laos, and Indonesia have established themselves as key production centers, and increased production is also expected in India and South Korea. Furthermore, Ethiopia has recently emerged as a new production hub, while the Middle East is expected to become another major production base starting in the second half of the year. |
