【安泰科】单晶硅片周评-市场成交清淡 硅片弱势运行 （2025年11月27日）

Core Viewpoint - The silicon wafer prices are experiencing a downward trend due to weak terminal demand, leading to continued pressure on the overall silicon wafer market [2][3]. Group 1: Price Trends - N-type G10L monocrystalline silicon wafer (182183.75mm/130μm) has an average transaction price of 1.17 yuan per piece, down 6.40% week-on-week [2][4]. - N-type G12R monocrystalline silicon wafer (182210mm/130μm) has an average transaction price of 1.20 yuan per piece, down 4.00% week-on-week [2][4]. - N-type G12 monocrystalline silicon wafer (210*210mm/130μm) has an average transaction price of 1.50 yuan per piece, down 5.06% week-on-week [2][4]. Group 2: Supply and Demand Dynamics - The supply side is seeing some silicon wafer companies initiating production cuts due to loss pressures, which is slightly improving the supply-demand relationship, although low-priced sources are increasing [3]. - The demand side is characterized by reduced operating rates for components and batteries, leading to a continued decline in demand and a slight increase in silicon wafer inventory [3]. - The overall operating rate in the industry has decreased slightly, with leading companies operating at 52% and 50%, while integrated companies are operating between 50%-70% [3]. Group 3: Market Outlook - The short-term outlook for silicon wafer prices remains under pressure due to weak terminal demand and increasing inventory levels [3]. - Many silicon wafer companies plan to further reduce operating loads in December, which, if production cuts are effectively implemented, may help stabilize the market [3].