光伏周价格 | 硅料硅片成交价格上调，组件端成交博弈激烈

Core Viewpoint - The article discusses the recent price trends and dynamics in the photovoltaic (PV) industry, highlighting the price increases across various segments such as polysilicon, silicon wafers, solar cells, and modules, driven by supply-demand dynamics and cost pressures [5][10][12][20]. Polysilicon Segment - The mainstream transaction prices for N-type polysilicon are reported as follows: N-type re-investment material at 35.5 RMB/KG, N-type dense material at 33.0 RMB/KG, and N-type granular silicon at 32.5 RMB/KG [5]. - Polysilicon manufacturers continue to adopt a price support strategy, although overall transactions have started to loosen, with some manufacturers accepting higher quotes while others are absorbing low-priced silicon materials [6]. - The inventory level in the polysilicon industry is over 370,000 tons, showing an upward trend, indicating an increase in production and a widening supply-demand gap [7]. - The supply-demand situation remains fundamentally unchanged, with expectations of some manufacturers resuming operations in August due to price incentives, leading to a balanced market [8]. - The pricing system is somewhat chaotic during the transition period, with significant price discrepancies due to varying production costs among manufacturers, but the overall transaction center has shown an increase [9]. - All categories of N-type polysilicon prices have reported increases, supported by price thresholds set by manufacturers, which have improved acceptance of price hikes by downstream silicon wafer producers [10]. - Future transactions are expected to continue upward trends, oscillating towards cost recovery [11]. Silicon Wafer Segment - The mainstream transaction prices for silicon wafers are as follows: N-type M10 at 1.00 RMB/piece, N-type G12 at 1.35 RMB/piece, and N-type G12R at 1.15 RMB/piece [12]. - Manufacturers are effectively controlling output, leading to improved supply-demand relationships and significant inventory reduction [13]. - The inventory status for silicon wafers has entered a depletion phase [14]. - Prices for all specifications of silicon wafers have seen substantial increases, with the recovery of supply-demand relationships being a key factor for future price increases [15]. Solar Cell Segment - The mainstream transaction prices for solar cells are reported as follows: M10 single crystal TOPCon at 0.23 RMB/W, G12 single crystal TOPCon at 0.26 RMB/W, and G12R single crystal TOPCon at 0.26 RMB/W [16]. - The price increase for 183N cells has lagged due to significant demand contraction, while 210N and 210RN cells have seen smoother price increases [17]. - The inventory for specialized solar cell manufacturers is approximately 10 days, indicating a balanced supply-demand situation with light inventory pressure [18]. - N-type solar cells have reported price increases, but the sustainability of these increases is threatened by poor visibility of downstream module orders [19]. Module Segment - The mainstream transaction prices for modules are as follows: 182mm bifacial TOPCon at 0.67 RMB/W and 210mm bifacial HJT at 0.72 RMB/W [20]. - Leading manufacturers are performing well in order acquisition, while second and third-tier manufacturers face poor order visibility, leading them to lower prices to secure orders [21]. - Some first-tier manufacturers' distributors are responding positively to price increases, while third-tier manufacturers struggle with pricing power, often resorting to low-price strategies [22]. Overseas Demand - In Europe, component prices have been adjusted downward, leading to an influx of low-priced components, with overall demand gradually declining as summer holidays approach [24]. - In India, DCR component prices have slightly increased due to government projects, while imported components have seen a slight decrease due to supply surplus [24]. - In the United States, FOB product prices remain stable, with trade policy fluctuations expected in July and August, leading to increased market caution [24].