SMM

PERC solar cell demand has dropped sharply, causing P-type orders to fall and manufacturers to sell at a loss. PERC cell prices are down by 3-5 cents/w, and Topcon cells by 2-3 cents/w, widening the P-type to N-type price gap to 0.1 yuan/w. However, N-type Topcon cell demand is up, due to increased N-type module production, keeping Topcon production rates high. Last week, PERC production was cut, while Topcon remained stable with slight growth.