Core Insights - The price of silicon wafers has continued to rise due to price support from silicon wafer manufacturers, downstream demand, and cost support from raw materials [1][2] Price Trends - N-type G10L monocrystalline silicon wafer (182*183.75mm/130μm) average transaction price is 1.31 yuan/piece, up 9.17% compared to the previous period - N-type G12R monocrystalline silicon wafer (182*210mm/130μm) average transaction price is 1.42 yuan/piece, up 8.40% compared to the previous period - N-type G12 monocrystalline silicon wafer (210*210mm/130μm) average transaction price is 1.66 yuan/piece, up 9.21% compared to the previous period [1][3] Market Dynamics - Downstream battery prices have significantly increased, with mainstream battery prices ranging from 0.37 to 0.39 yuan/W, up 18.75% compared to the previous period, while module prices remain stable at 0.66 to 0.68 yuan/W [1] - The supply side has seen a significant reduction in silicon wafer production, with December output at 47.7 GW, down 14.2% from November [2] - The overall operating rate in the industry remains stable, with major integrated companies operating at 50%-70% capacity [2] Price Stability and Future Outlook - Despite strong price increase intentions from silicon wafer manufacturers, the terminal component prices have not followed the upward trend, and battery manufacturers are planning to reduce production to alleviate supply-demand pressure, making it difficult for silicon wafer prices to maintain an upward trend in the short term [2]

Core Viewpoint - Leading silicon wafer companies have significantly raised their prices, indicating a stabilization and recovery phase in the photovoltaic industry after a deep adjustment, driven by cost support, supply-demand regulation, and industry chain transmission [1][2]. Cost Factors - The price increase of silicon wafers is primarily due to a substantial rise in upstream silicon material prices, with new single quotes exceeding 65,000 yuan/ton, and silicon material accounting for 48% of wafer costs [1]. - The price adjustment reflects the downward transmission of cost pressures within the industry chain and is a proactive measure by companies to address rising costs and restore profitability [1]. Supply and Demand Dynamics - Silicon wafer companies are actively reducing production and controlling inventory to adjust market supply, leading to a significant decrease in operational load among leading firms and a slowdown in inventory accumulation [1]. - The downstream battery segment has seen price increases due to soaring silver prices, with average prices for models like 183N and 210RN reaching 0.3 yuan/W, providing a transmission space for wafer price increases [1]. Industry Collaboration - There is a strengthening consensus on industry self-discipline to stabilize prices, with leading companies guiding market expectations through joint pricing to avoid chaotic price competition [1]. Market Outlook - In the short term, silicon prices are expected to maintain a strong trend due to reduced production and manageable inventory levels [2]. - The China Photovoltaic Industry Association forecasts a conservative estimate of 213 GW and an optimistic estimate of 271 GW for new domestic photovoltaic installations by 2026, which, along with rebounding demand from overseas markets, is expected to significantly boost silicon wafer demand [2]. - The price increase in silicon wafers enhances the stabilization expectations of the photovoltaic industry chain, benefiting leading companies directly and improving demand expectations for upstream polysilicon producers [2].

Core Viewpoint - The silicon wafer prices have shown a significant increase this week, driven by supply contraction, recovering demand, and rising costs, with expectations for continued positive trends in the market by the end of the month [1][2] Group 1: Price Trends - The average transaction price for N-type G10L monocrystalline silicon wafers (182*183.75mm/130μm) increased by 2.56% week-on-week to 1.2 yuan per piece [1] - The average transaction price for N-type G12R monocrystalline silicon wafers (182*210mm/130μm) rose by 9.17% week-on-week to 1.31 yuan per piece [1] - The average transaction price for N-type G12 monocrystalline silicon wafers (210*210mm/130μm) increased by 1.33% week-on-week to 1.52 yuan per piece [1] Group 2: Production and Demand Dynamics - Major silicon wafer companies are implementing production cuts, with an expected decrease of about 5% in December production compared to November [2] - The sentiment of holding back sales has increased among most companies, with low-price selling almost disappearing [2] - The mainstream price for battery cells has risen to 0.31-0.33 yuan/W, reflecting a 10.3% increase week-on-week, while module prices remained stable at 0.66-0.68 yuan/W [1] Group 3: Market Conditions - The price of polysilicon has also increased, with transaction prices rising by 1-2 yuan per kilogram, contributing to a cost increase of 0.05 yuan per piece for silicon wafers [2] - The 210R silicon wafer saw a significant price increase of 9.17%, attributed to previous price declines and increased procurement demand from leading battery companies [2] - Despite the price increases, overall transaction volumes remain limited due to cautious procurement strategies in the market [2]

Core Viewpoint - The article highlights a significant increase in silicon wafer prices driven by supply contraction, demand recovery, and rising costs, with specific price changes noted for various types of silicon wafers and solar cells [1][2]. Price Changes - N-type G10L monocrystalline silicon wafer (182*183.75mm/130μm) average transaction price is 1.2 yuan/piece, up 2.56% week-on-week [1][3]. - N-type G12R monocrystalline silicon wafer (182*210mm/130μm) average transaction price is 1.31 yuan/piece, up 9.17% week-on-week [1][3]. - N-type G12 monocrystalline silicon wafer (210*210mm/130μm) average transaction price is 1.52 yuan/piece, up 1.33% week-on-week [1][3]. Market Dynamics - Supply reduction from silicon wafer manufacturers is expected to decrease production by approximately 5% in December compared to November, with companies controlling sales and showing a clear reluctance to sell at low prices [2]. - The significant rise in silver prices has led to an increase in downstream battery prices, with mainstream battery prices rising to 0.31-0.33 yuan/W, up 10.3% week-on-week [1][2]. - Despite the increase in silicon wafer prices, overall transaction volume remains limited due to cautious procurement strategies from component manufacturers and a lack of clear recovery in end-user demand [2]. Production Rates - The overall operating rate in the silicon wafer industry remains stable, with leading companies operating at rates of 50% and 48%, while integrated companies operate between 50% and 70% [2]. - If price transmission within the industry chain proceeds smoothly, the silicon wafer market is expected to continue its positive trend by the end of the month [2].

Group 1 - The A-share market saw a significant increase in silicon wafer stocks, with TCL Zhonghuan rising over 4%, and Tongwei Co., Daqo New Energy, Huamin Co., and Hongyuan Green Energy all increasing by over 2% [1] - Four leading silicon wafer companies have jointly raised their prices, with 183N silicon wafer priced at 1.4 yuan per piece, 210RN at 1.5 yuan per piece, and 210N at 1.7 yuan per piece, resulting in an average price increase of 12% [1] - The average transaction price for N-type G10L monocrystalline silicon wafers increased by 2.56% week-on-week to 1.2 yuan per piece, while N-type G12R and N-type G12 monocrystalline silicon wafers saw increases of 9.17% and 1.33%, respectively [1] Group 2 - Downstream battery prices have significantly increased, with mainstream battery prices ranging from 0.31 to 0.33 yuan per watt, reflecting a week-on-week increase of 10.3%, while module prices remained stable [1] - Silicon wafer companies have shown a strong willingness to maintain prices, leading to a substantial increase in silicon wafer prices [1]

Core Viewpoint - The price of silicon wafers has significantly increased this week, driven by strong pricing strategies from silicon wafer companies and increased demand from downstream battery manufacturers [1][2]. Price Trends - N-type G10L monocrystalline silicon wafer (182*183.75mm/130μm) average transaction price is 1.2 yuan/piece, up 2.56% from last week - N-type G12R monocrystalline silicon wafer (182*210mm/130μm) average transaction price is 1.31 yuan/piece, up 9.17% from last week - N-type G12 monocrystalline silicon wafer (210*210mm/130μm) average transaction price is 1.52 yuan/piece, up 1.33% from last week [1][3]. Market Dynamics - Silicon wafer companies are strongly inclined to raise prices, with significant production cuts and a reluctance to sell at low prices observed - Increased procurement orders from downstream battery manufacturers have led to a higher tolerance for expensive silicon wafers - The rising price of polysilicon continues to support silicon wafer costs [2]. Production and Capacity - The overall operating rate in the industry remains stable, with major companies operating at 50% and 48% capacity, while integrated companies operate between 50%-70% - Most silicon wafer companies are adopting a cautious approach, implementing production cuts to control prices, leading to a market characterized by "price increase with fewer orders" [2]. Future Outlook - If price transmission throughout the entire industry chain proceeds smoothly, the silicon wafer market is expected to continue its positive development - A generally optimistic outlook from silicon wafer manufacturers suggests that the market may strengthen further in December [2].

本周硅片部分订单价格小幅探涨，主要受以下因素影响：一，成本端：近期原材料多晶硅价格持稳运 行，对硅片厂商形成成本支撑；二，需求端：由于电池用银价格上涨，电池片价格开始上调，一定程度 上增加了硅片涨价的空间预期；三，供应端：硅片厂商开工负荷下降较多。因此，市场情绪转为积极态 势，硅片价格小幅上探。本周行业整体开工率继续小幅下调，环比上周下降5%，其中两家一线企业开 工率在50%和48%，一体化企业开工率在50%-70%之间，其余企业开工在50%-72%之间。 （原标题：硅业分会：市场情绪积极 本周硅片小幅探涨） 智通财经APP获悉，12月18日，硅业分会发布单晶硅片周评。据安泰科统计，本周硅片价格小幅探涨。 其中，N型G10L单晶硅片(182*183.75mm/130μm)成交均价在1.17元/片，环比上周上涨0.86%；N型G12R 单晶硅片(182*210mm/130μm)成交均价在1.2元/片，环比上周上涨0.84%；N型G12单晶硅片(210*210 mm/130μm)成交均价在1.5元/片，环比上周上涨0.67%。据调研了解，本周下游电池价格较上周小幅上 涨，组件价格较上周持稳运行，其中电池片主流价格 ...

Core Insights - The price of silicon wafers continues to rise this week, driven by an increase in polysilicon prices and positive market sentiment [1][2] - The average transaction prices for various types of N-type silicon wafers have shown significant increases compared to the previous week [1][3] Price Trends - N-type G10L silicon wafer (182*183.75mm/130μm) average price is 1.32 CNY per piece, up 3.13% week-on-week - N-type G12R silicon wafer (182*210mm/130μm) average price is 1.40 CNY per piece, up 1.45% week-on-week - N-type G12 silicon wafer (210*210mm/130μm) average price is 1.68 CNY per piece, up 5.00% week-on-week [1][3] Supply and Demand Dynamics - On the supply side, the price of polysilicon continues to rise, leading silicon wafer manufacturers to be optimistic about future market conditions - On the demand side, overseas demand remains strong due to the impact of U.S. anti-dumping measures and expected domestic export tax rebate policies, resulting in a high volume of orders for battery cells [1][2] Production Capacity - The overall operating rate in the industry remains stable, with two leading companies operating at 52% and 50% capacity, while integrated companies operate between 54% and 80%, and other companies operate between 50% and 80% [1] Future Outlook - In the short term, the increase in polysilicon prices is expected to support current silicon wafer prices due to rising production costs and sustained overseas demand - In the medium term, the price trend of silicon wafers will depend on terminal demand and the acceptance of price increases by component manufacturers [2]

Core Viewpoint - The price of silicon wafers continues to rise, driven by increasing polysilicon prices and strong demand from overseas markets, particularly in light of favorable policies and stable production rates in the industry [1][2]. Group 1: Silicon Wafer Prices - The average transaction price for N-type G10L monocrystalline silicon wafers (182*183.75mm/130μm) is 1.32 yuan per piece, up 3.13% week-on-week [1]. - The average transaction price for N-type G12R monocrystalline silicon wafers (182*210mm/130μm) is 1.40 yuan per piece, up 1.45% week-on-week [1]. - The average transaction price for N-type G12 monocrystalline silicon wafers (210*210mm/130μm) is 1.68 yuan per piece, up 5.00% week-on-week [1]. Group 2: Market Dynamics - The increase in silicon wafer prices is attributed to rising polysilicon prices, which have boosted market sentiment [1]. - On the supply side, the continuous rise in polysilicon prices has led silicon wafer manufacturers to be optimistic about future market conditions [1]. - On the demand side, the impact of U.S. anti-dumping measures and corresponding tariffs, along with expectations of domestic export tax rebate policies, has resulted in strong overseas demand and increased orders for battery cells [1]. Group 3: Production Rates - The overall operating rate in the industry remains stable, with two leading companies operating at rates of 52% and 50%, while integrated companies operate between 54% and 80% [1]. - Other companies have operating rates ranging from 50% to 80% [1]. Group 4: Battery and Module Prices - The mainstream price for battery cells is 0.29-0.30 yuan/W, reflecting a week-on-week increase of 0.01 yuan/W [2]. - The mainstream price for modules remains stable at 0.66-0.68 yuan/W, unchanged from the previous week [2]. - In the short term, the increase in polysilicon prices is expected to raise silicon wafer production costs, while sustained overseas demand supports current silicon wafer prices [2].

Group 1 - The core viewpoint of the article indicates that silicon wafer prices continue to rise, driven by strong demand and increasing raw material costs [2][3] - N-type G10L silicon wafer average transaction price is 1.28 yuan/piece, up 2.40% week-on-week; N-type G12R at 1.38 yuan/piece, up 0.73%; and N-type G12 at 1.60 yuan/piece, up 1.91% [2][4] - The overall operating rate in the industry has slightly increased, with leading companies operating at 52% and 50%, while integrated companies range from 54% to 80% [2] Group 2 - Downstream battery prices remain stable compared to last week, with mainstream battery prices at 0.28-0.29 yuan/W and component prices slightly increasing to 0.66-0.68 yuan/W, up 0.01 yuan/W week-on-week [3] - If raw material polysilicon prices continue to rise, the demand for 183 silicon wafers is expected to lead the market; however, domestic terminal component demand has not shown significant recovery [3] - The price fluctuations of various silicon wafers are based on weighted averages from 12 companies, which account for 92.77% of the domestic monocrystalline silicon wafer production in Q2 2025 [5]