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SMM March 28 News:
Silica
Price
Silica prices remained stable this week. As some silicon plants in south-west China prepared for resumption of production during the rainy season, raw material demand improved gradually, but overall demand remained relatively low. Moreover, under the influence of a loose supply side, it is difficult for prices to rise. Currently, the mine-mouth price of low-grade silica in Yunnan is 330-350 yuan/mt. The mine-mouth price of high-grade silica in Inner Mongolia is 350-380 yuan/mt. The mine-mouth price of high-grade silica in Hubei is 400-450 yuan/mt. The mine-mouth price of high-grade silica in Jiangxi is 430-460 yuan/mt.
Production
The supply of silica from mines is generally loose.
Demand
From the demand side, although the enthusiasm for raw material procurement has increased recently in March, overall raw material demand remains relatively low.
Silicon Metal
Price
Spot silicon metal prices continued to weaken this week. Yesterday, SMM above-standard #553 silicon in east China was at 10,100-10,300 yuan/mt. The most-traded SI2505 futures contract fluctuated upward due to supply-side news, closing at 9,920 yuan/mt at the end of yesterday's session. The silicon metal market traded on demand.
Production:
Silicon metal production in March increased significantly compared to February. Recently, there have been many reports of production cuts by major manufacturers, increasing uncertainty in silicon metal supply for April. Attention is focused on changes in the operating rates of major manufacturers.
Inventory
Social Inventory: According to SMM statistics, the national social inventory of silicon metal on March 21 totaled 591,000 mt, down 3,000 mt WoW. Among them, social ordinary warehouses held 135,000 mt, down 4,000 mt WoW, and social delivery warehouses held 456,000 mt (including unregistered warrants and spot cargo), up 1,000 mt WoW.
Wafer
Price
The market price of N-type 18X wafers is 1.18-1.23 yuan/piece, and the price of N-type 210RN wafers is 1.35-1.5 yuan/piece. On Tuesday this week, some wafer companies raised their market quotations again. Currently, high prices have not truly taken off, and downstream players are heavily concerned about the future market, temporarily observing high prices.
Production
Wafer production schedule increased MoM in March, and is expected to continue to increase in April. However, wafer companies are somewhat cautious about further production increases, and are generally bearish on the Q3 market, with a limited window period.
Inventory
Recent wafer transactions were mainly for 210R, with 183 demand picking up. Battery demand is still slightly higher than wafer demand, and inventory is generally in a destocking state.
Solar Cell
Price
The price of high-efficiency PERC 182 cells (23.2% and above efficiency) is 0.31-0.32 yuan/W; the PERC 210 cell market has no trading volume.
The price of Topcon 183 and Topcon 210 cells (25% and above efficiency) is around 0.30-0.305 yuan/W, with quotations raised to 0.31 yuan/W; the price of Topcon 210RN cells is 0.34-0.34 yuan/W, with quotations raised to 0.35 yuan/W. Recently, the upward trend in cell prices has weakened.
HJT has few direct sales, and integrated manufacturers are self-sufficient.
Production
Topcon cell production will continue to grow in April, with the incremental size type mainly being 210r. The incremental cell production in April comes from integrated manufacturers.
Inventory
210RN cells are still in tight supply, while 183N has a trend of inventory buildup.
PV Film
Price
PV-grade EVA
The transaction price of PV-grade EVA is 11,550-11,950 yuan/mt. The domestic delivery-to-factory price of PV-grade POE is around 12,000-14,000 yuan/mt, and POE prices remain stable.
PV Film
The current mainstream price of 420g transparent EVA film is 5.46-5.67 yuan/m², the price of 420g white EVA film is 5.96-6.17 yuan/m², the price of 380g EPE film is 5.79-5.89 yuan/m², and the price of 380g POE film is 6.84-7.22 yuan/m².
Production
PV-grade EVA production schedule increased by 13.7% MoM in March, and PV film production schedule increased by 28.5% MoM.
Inventory
Currently, petrochemical companies have low inventory, and with the rise in module scheduled production, EVA demand has grown significantly.
