Group 1: Silicon Material - Current silicon material inventory has reached approximately 430,000 tons and is still in a continuous accumulation phase [2][3] - The actual transaction price of silicon material has shown signs of decline due to oversupply and inventory accumulation, but is expected to stabilize in the short term due to anticipated policy support [5] Group 2: Silicon Wafer - Current silicon wafer inventory remains high at over 23 GW, with some manufacturers beginning to reduce production, yet overall shipment pressure persists [6][7] - The market is characterized by a surplus, with supply still exceeding demand, leading to ongoing tension in the supply-demand relationship [8] - Silicon wafer prices are under significant downward pressure, with prices for 183N and 210RN approaching 1.25 RMB per piece, and 210N dropping to around 1.6 RMB per piece [9] Group 3: Battery Cells - Current inventory in the battery segment has accumulated to over 7 days, indicating a significant increase in inventory and sluggish turnover [10] - The supply side of the battery segment is expected to adjust due to high inventory and shrinking demand, with a substantial reduction in production anticipated [11] - Battery prices are under pressure, with mainstream prices for 183N at 0.3 RMB/W, 210RN at 0.28 RMB/W, and 210N at 0.29 RMB/W, with some traders resorting to low-price dumping [13] Group 4: Photovoltaic Modules - The module market is facing challenges from both domestic and international demand shrinkage, with significant weakening in end-user demand [14] - There is a divergence in supply, with major domestic manufacturers maintaining stable production while smaller producers are reportedly halting operations [14] - The overall price pressure on modules is increasing due to declining costs of upstream materials and shrinking end-user demand [15]
TrendForce集邦咨询：供需失衡持续演变 光伏产业链各环节均面临挑战
智通财经网·2025-11-13 07:16