Longi(SH:601012) Xin Hua Wang·2025-08-12 05:48Core Viewpoint - The price of silicon wafers continues to rise, driven by increased demand from the photovoltaic installation sector, which has exceeded expectations this year [1][2][3]. Price Trends - The average transaction price for M10 monocrystalline silicon wafers (182mm/150μm) increased to 3.36 yuan per piece, a week-on-week increase of 6.67% - The average price for N-type monocrystalline silicon wafers (182mm/130μm) rose to 3.45 yuan per piece, with a week-on-week increase of 5.83% - The average price for G12 monocrystalline silicon wafers (210mm/150μm) remained at 4.35 yuan per piece, reflecting a week-on-week increase of 3.57% [1]. Demand and Supply Dynamics - From January to July, the domestic newly installed photovoltaic capacity reached 97.2 GW, a year-on-year increase of 158% - In July alone, the newly installed capacity was 18.7 GW, marking a year-on-year increase of 174% and a month-on-month increase of 9% [2]. - The increase in silicon wafer prices is attributed to the unexpected surge in demand, as well as a reduction in overall industry capacity utilization due to lower prices earlier in the year [2][3]. Market Expectations - The silicon industry association noted that major producers are operating at full capacity, with an expected supply of 58 GW to 60 GW of silicon wafers in August [3]. - Despite the price increases, leading companies like LONGi Green Energy have maintained their prices, benefiting from strong cost control capabilities [4]. - Future price trends for silicon wafers will depend on various factors, including production capacity, the momentum of silicon material price increases, and the pricing trends in the battery segment [4]. Mid-term Outlook - Although the production of N-type battery cells is expected to increase, the market has not yet entered a phase of large-scale inventory replenishment, suggesting that silicon wafer prices may remain low and fluctuate in the mid-term [5]. - The overall supply of silicon materials and wafers still exceeds demand, which may provide competitive advantages to companies with technological and pricing advantages [5].