【安泰科】单晶硅片周评-电池端压价采买 硅片价格承压运行（2025年6月12日）

Core Viewpoint - The recent decline in silicon wafer prices is primarily driven by weak downstream demand, relaxed upstream supply, and falling raw material prices [2] Group 1: Price Trends - This week, the average transaction prices for N-type G10L, G12R, and G12 monocrystalline silicon wafers are 0.93 CNY/piece, 1.06 CNY/piece, and 1.26 CNY/piece, reflecting week-on-week decreases of 2.11%, 3.64%, and 3.08% respectively [1] - The overall industry operating rate has slightly decreased to around 52%, with leading companies operating at rates of 50% and 54% [2] Group 2: Demand and Supply Dynamics - Downstream demand has weakened significantly due to the marketization of new energy grid connection prices, leading to a shift from supply shortages to small-batch low-price procurement [2] - Despite the decline in silicon wafer prices, manufacturers are maintaining relatively high operating rates to preserve market share, with some using a higher proportion of lower-quality silicon materials to reduce production costs [2] Group 3: Future Outlook - Most silicon wafer companies are currently facing cash flow losses, and some have plans to reduce production, suggesting a lower probability of significant further price declines due to reduced supply and cost support [2]