光伏周价格 | 上游硅料调涨情绪回落，下游组件博弈激烈

Core Viewpoint - The article discusses the recent price trends and market dynamics in the photovoltaic (PV) industry, highlighting fluctuations in prices across various segments such as polysilicon, silicon wafers, battery cells, modules, and glass, while indicating a cautious outlook for future pricing and supply-demand balance [2][4][6][8][10][12][14][17]. Polysilicon Segment - The mainstream transaction prices for N-type polysilicon are reported as follows: N-type re-investment material at 45.0 RMB/KG, N-type dense material at 43.0 RMB/KG, and N-type granular silicon at 42.5 RMB/KG [4]. - New orders are limited, with prices ranging from 45 to 49 RMB/KG, while overall average prices for mixed packages are between 43 to 45 RMB/KG [5]. - The total inventory of polysilicon manufacturers is approximately 285,000 tons, with some manufacturers beginning to ship to spot traders to alleviate inventory pressure [6]. - In August, the overall supply of polysilicon is expected to be 126,000 tons, driven by increased production from leading manufacturers [7]. Silicon Wafer Segment - The mainstream transaction prices for silicon wafers are as follows: N-type M10 at 1.20 RMB/piece, N-type G12 at 1.55 RMB/piece, and N-type G12R at 1.35 RMB/piece [8]. - The production schedule for silicon wafers in August is cautious, adhering to a production control strategy, with overall output not significantly increasing despite some manufacturers raising production [9]. - Current silicon wafer inventory has decreased to around 16 GW, with strong overseas demand for 183N specifications aiding in inventory reduction [9]. Battery Cell Segment - The mainstream transaction prices for battery cells are reported as follows: M10 single crystal TOPCon at 0.295 RMB/W, G12 single crystal TOPCon at 0.285 RMB/W, and G12R single crystal TOPCon at 0.285 RMB/W [10]. - The supply for battery cells is in the range of 57-58 GW, with a slight month-on-month increase of 0.8%, and manufacturers are maintaining flexible production to match actual demand [11]. - As of this week, specialized battery cell companies have seen inventory decrease to around 5 days, indicating a balanced supply-demand situation [12]. Module Segment - The mainstream transaction prices for modules are as follows: 182 mm double-sided double-glass TOPCon at 0.67 RMB/W and 210 mm double-sided double-glass HJT at 0.72 RMB/W [13]. - The monthly production is estimated at 53 GW, with a slight increase, but overall order visibility remains low, leading to challenges in pricing due to upstream cost pressures [14]. - New orders are being adjusted upwards, with leading manufacturers raising prices to 0.70 RMB/W and above, although actual transaction prices remain in the 0.65-0.70 RMB/W range [15]. Glass Segment - The mainstream transaction prices for photovoltaic glass are reported as follows: 2.0 mm double-layer coated at 12.0 RMB/m², 3.2 mm double-layer coated at 18.5 RMB/m², and 2.0 mm back glass (excluding processing fees) at 11.0 RMB/m² [16]. - The industry is experiencing a continuous contraction in supply, with several production lines expected to reduce output, while downstream module manufacturers are stockpiling for the upcoming peak season [17].