Core Viewpoint - The photovoltaic industry is experiencing significant price declines across the supply chain, driven by weak downstream demand and inventory issues [1][2][4]. Group 1: Price Trends - The average transaction price of N-type polysilicon has decreased, with N-type re-investment material at 34,400 yuan/ton, down 6.27% week-on-week, and N-type granular silicon at 33,500 yuan/ton, down 2.90% [1]. - N-type G10L monocrystalline silicon wafer prices fell to 0.90 yuan/piece, down 3.23% week-on-week, while N-type G12R and G12 prices also saw slight declines [2]. - The average prices for N-type G10L and G12 solar cells have dropped to 0.24 yuan/W and 0.255 yuan/W, respectively, with G12R remaining stable at 0.265 yuan/W [3]. Group 2: Demand and Inventory Issues - Downstream demand for silicon wafers has weakened due to reduced production of batteries and modules, leading to lower prices and increased inventory levels across the supply chain [2][4]. - Current silicon material inventory exceeds 300,000 tons, with buyers holding at least 100,000 tons, while silicon wafer inventory has risen to 20-23 GW [4]. - The component inventory has increased to 1.5 to 1.8 months, indicating a potential accumulation risk as demand remains weak [4]. Group 3: Market Outlook - The industry anticipates continued pressure on silicon wafer prices due to weak demand and the inability of major manufacturers to reduce production significantly [3][4]. - Despite calls for capacity control from manufacturers, maintaining market share has led to a prisoner’s dilemma, complicating efforts to stabilize prices [4][5]. - The integration of leading companies in the industry is expected to take time and require significant resources, with market sentiment likely remaining cautious until at least the second half of next year [5].
光伏产业链价格再度下挫 机构判断年内难有明显反弹
Zheng Quan Shi Bao Wang·2025-06-20 14:43