【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 - The average transaction price for N-type G10L monocrystalline silicon wafers (182183.75mm/130 μm) is 0.93 yuan/piece, down 2.11% week-on-week [1] - The average transaction price for N-type G12R monocrystalline silicon wafers (182210mm/130 μm) is 1.06 yuan/piece, down 3.64% week-on-week [1] - The average transaction price for N-type G12 monocrystalline silicon wafers (210*210mm/130 μm) is 1.26 yuan/piece, down 3.08% week-on-week [1] Group 2: Demand and Supply Dynamics - Downstream demand has weakened significantly due to the marketization of electricity prices for new energy, leading to a shift from supply shortages to small-batch low-price purchases [2] - Despite the decline in silicon wafer prices, manufacturers have maintained relatively high operating rates to preserve market share, with the overall industry operating rate slightly decreasing to around 52% [2] - Some manufacturers are using a higher proportion of lower-quality silicon materials to reduce production costs [2] Group 3: Market Outlook - The overall sentiment in the market is bearish, with most silicon wafer companies currently facing cash flow losses and some planning production cuts [2] - The main prices for downstream components remain stable at 0.66-0.67 yuan/W, while battery prices have slightly decreased to 0.24-0.25 yuan/W, down 0.01 yuan/W week-on-week [2] - Given the potential for reduced supply and cost support, the likelihood of a significant further decline in silicon wafer prices is low [2]