【安泰科】单晶硅片周评-下游需求明显降低 硅片价格继续下行（2025年4月24日）

Core Viewpoint - The silicon wafer prices continue to decline due to a significant drop in downstream demand for batteries and components, leading to an oversupply in the market [1][2][3] Group 1: Silicon Wafer Prices - This week, the average transaction price for N-type G10L monocrystalline silicon wafers is 1.12 yuan per piece, down 8.20% week-on-week [1] - The average transaction price for N-type G12R monocrystalline silicon wafers is 1.30 yuan per piece, down 9.09% week-on-week [1] - The average transaction price for P-type G12 monocrystalline silicon wafers remains stable at 1.63 yuan per piece [1] - The average transaction price for N-type G12 monocrystalline silicon wafers is 1.46 yuan per piece, down 4.58% week-on-week [1] Group 2: Market Dynamics - The decline in silicon wafer prices is primarily driven by a rapid decrease in downstream component demand, resulting in reduced battery production and weakened demand for silicon wafers [2] - Market activity is notably sluggish, with some silicon wafer companies engaging in panic selling due to fears of further price declines [2] - The overall industry operating rate is between 55%-60%, with leading companies maintaining rates of 60% and 58% [2] Group 3: Downstream Prices - Downstream battery and component prices continue to drop, with component prices falling significantly to 0.68 yuan per watt [3] - Battery prices have decreased slightly, with mainstream prices ranging from 0.26 to 0.28 yuan per watt, down 0.02-0.03 yuan per watt [3] - If terminal demand does not recover in the short term, silicon wafer prices are expected to continue their downward trend [3] - Despite the short-term challenges, there is potential for silicon wafer prices to stabilize in the long term due to industry self-discipline and production control [3]