光伏产业链价格再度小幅下探 组件需求或将转入短暂低迷期

Core Viewpoint - The recent data indicates a slight decline in polysilicon prices, driven by both bulk transactions and expectations of lower raw material procurement prices from downstream companies [1][2]. Polysilicon Market - The average transaction price for N-type re-investment material is 37,500 CNY/ton, down 2.85% week-on-week; N-type granular silicon is at 34,500 CNY/ton, down 4.17%; P-type polysilicon remains stable at 31,300 CNY/ton [1]. - The decrease in polysilicon prices is attributed to the gradual signing of June orders and the need for silicon material companies to adjust prices due to inventory considerations [1]. - New orders for silicon materials show a slight downward trend, with manufacturers focusing on price stability and confirming production reduction strategies [2]. Silicon Wafer Market - The average transaction prices for N-type G10L, G12R, and G12 silicon wafers remain stable at 0.95 CNY/piece, 1.10 CNY/piece, and 1.30 CNY/piece respectively [2]. - The stability in silicon wafer prices is supported by improved market sentiment and increased order transactions from downstream battery manufacturers [2]. - The overall operating rate in the industry has slightly decreased to around 53%, with major manufacturers maintaining stable rates [3]. Battery Cell Market - The average prices for 183N and 210N battery cells have dropped to 0.25 CNY/W and 0.27 CNY/W respectively, while the 210RN battery cell price remains stable at 0.265 CNY/W [4]. - Manufacturers report weak demand for battery cell orders in June, leading to continued price declines for 183N and 210N cells [4]. - Some battery manufacturers have begun to reduce production since May, as market prices are closely aligned with production costs [4]. Module Market - Module prices have shown little change, with manufacturers adopting a price stability strategy [5]. - The lowest new order prices for TOPCon first-line manufacturers have reached 0.65 CNY/W to 0.66 CNY/W, with recent low-price orders being controlled [5]. - The demand for modules is expected to remain uncertain, particularly in July and August, which may impact future price support [5].