Core Viewpoint - The article provides a comprehensive overview of the current pricing trends in the photovoltaic industry, highlighting stability in silicon material prices, increasing demand for silicon wafers and battery cells, and a rising trend in module prices due to strong market demand and supply dynamics [3][4][5][6]. Silicon Material Segment - The mainstream transaction prices for N-type recycled silicon are 41 RMB/KG, N-type dense silicon at 40 RMB/KG, and N-type granular silicon at 38 RMB/KG, indicating stable pricing [7][10]. - Downstream demand remains strong, with manufacturers adopting a strategy of consuming low-cost materials and purchasing as needed to avoid losses [8][10]. Silicon Wafer Segment - Mainstream transaction prices for P-type M10 wafers are 1.10 RMB/piece, P-type G12 wafers at 1.65 RMB/piece, N-type M10 wafers at 1.21 RMB/piece, and N-type G12 wafers at 1.55 RMB/piece [12]. - The strong demand for silicon wafers is driven by robust procurement activities from battery manufacturers and traders, leading to a decline in inventory levels [13][14]. Battery Cell Segment - Mainstream transaction prices for M10 battery cells are 0.330 RMB/W, with N-type cells showing an upward trend, particularly the 210RN cells reaching 0.34 RMB/W [16][18]. - The ongoing demand surge is stimulating procurement activities, with manufacturers experiencing both volume and price increases [17][18]. Module Segment - Mainstream transaction prices for 182mm single-sided PERC modules are 0.69 RMB/W, while 210mm single-sided PERC modules are priced at 0.70 RMB/W [19]. - The module production is expected to increase in April, driven by strong order visibility and ongoing demand from distributed projects [20][21]. Photovoltaic Glass Segment - Mainstream transaction prices for 2.0mm coated photovoltaic glass are 13.5 RMB/m², 3.2mm coated glass at 22.5 RMB/m², and 2.0mm back glass at 12.5 RMB/m² [23]. - The demand for photovoltaic glass is recovering due to strong downstream module demand, although there are concerns about potential supply-demand imbalances if production capacity is activated too quickly [24].

Core Viewpoint - The article provides a comprehensive overview of the current pricing trends and dynamics in the photovoltaic (PV) industry, highlighting stability in prices across various segments, including polysilicon, wafers, cells, modules, and glass, while also noting the impact of supply and demand factors on these prices [4][10][18][24][27]. Polysilicon Segment - The mainstream transaction prices for N-type recycled polysilicon are at 40 RMB/KG, N-type dense polysilicon at 38 RMB/KG, and N-type granular silicon at 38 RMB/KG [6]. - The overall market is currently in a stalemate, with polysilicon prices remaining stable due to significant upward pressure from wafer prices [7]. - Current polysilicon inventory levels are above 300,000 tons, but the increase in inventory is slowing due to industry self-discipline and maintenance measures by some manufacturers [8]. Wafer Segment - Mainstream transaction prices for P-type M10 wafers are at 1.10 RMB/piece, P-type G12 at 1.65 RMB/piece, N-type M10 at 1.18 RMB/piece, and N-type G12 at 1.55 RMB/piece [12]. - Inventory growth is slowing, and some leading manufacturers are adjusting production schedules, with current inventory levels still above 2 billion [13]. - The production of wafers is expected to rebound in March, driven by the recovery in downstream production, particularly for the 210RN specifications [14]. Cell Segment - Mainstream transaction prices for M10 cells are at 0.330 RMB/W, G12 cells at 0.270 RMB/W, and both M10 and G12 TOPCon cells at 0.290 RMB/W [17]. - The production of cells is anticipated to increase in March, with leading manufacturers contributing to the output growth, while inventory levels are expected to peak [18]. Module Segment - Mainstream transaction prices for 182mm single-sided PERC modules are at 0.690 RMB/W, 210mm single-sided PERC modules at 0.700 RMB/W, and 182mm double-sided PERC modules at 0.700 RMB/W [22]. - The module production is expected to rise in March due to favorable factors such as the "New 531" policy and the traditional peak season overseas, with ground and distributed installation demand in the pipeline [23]. - Module prices are stable, with an increasing number of manufacturers raising their prices, indicating a potential shift towards a "buy high, not low" market sentiment [24]. Glass Segment - Mainstream prices for 2.0mm coated glass are at 13 RMB/sqm, 3.2mm coated glass at 21 RMB/sqm, and 2.0mm back glass at 12 RMB/sqm [26]. - The production of glass remains stable, with no clear plans for cold repairs or production cuts, and manufacturers are showing a stronger willingness to raise prices due to long-term losses [27].