硅片价格延续涨势 产业链价格回暖趋势明显

Core Viewpoint - The recent increase in silicon wafer prices is driven by a combination of reduced supply and improved demand in the photovoltaic market, with significant price hikes observed across various specifications of silicon wafers [1][2]. Group 1: Price Trends - Silicon wafer prices have continued to rise, with average prices increasing by approximately 0.1 yuan per piece in the latest week [1]. - The average transaction price for N-type G10L monocrystalline silicon wafers reached 1.2 yuan per piece, up 9.09% week-on-week; N-type G12R at 1.35 yuan per piece, up 8.00%; and N-type G12 at 1.55 yuan per piece, up 7.64% [1]. - In July, the price of N-type G10L monocrystalline silicon wafers increased from 0.88 yuan per piece at the beginning of the month to 1.2 yuan per piece by the end, marking a rise of over 36% [1]. Group 2: Market Dynamics - The photovoltaic market has seen a positive sentiment since July, with price increases in the upstream polysilicon segment leading to a recovery in downstream prices, including silicon wafers [1][2]. - The overall operating rate in the silicon wafer industry remained stable, with major companies operating at 50% and 40% capacity, while integrated companies operated between 50% and 80% [2]. - Despite the reduction in production by silicon wafer manufacturers, profitability pressures remain due to ongoing cost pressures from upstream and price negotiations with downstream customers [2]. Group 3: Future Outlook - The photovoltaic industry is experiencing a rebound in prices across the supply chain, particularly in silicon materials, silicon wafers, and battery segments, although component and auxiliary material prices show divergence [3]. - The demand for battery cells is notably influenced by export tax rebates and changes in overseas policies, indicating a clear recovery trend [3]. - By 2026, the photovoltaic industry chain is expected to reach a more definitive price turning point, contingent on policy execution and adjustments across various segments [3].