Indian PV manufacturer Waaree Energies Ltd has officially commenced construction of its integrated photovoltaic silicon ingot and wafer manufacturing plant located in the Butibori Industrial Area of Nagpur, Maharashtra. With planned capacity of 10 GW each for silicon ingots and wafers, the plant will, upon completion, become the largest integrated production site of its kind in India and mark an important step in strengthening India’s domestic upstream PV manufacturing ecosystem and advancing the “Atmanirbhar Bharat” initiative. According to reports, the project covers approximately 300 acres and involves a total investment of about INR 62 billion. It is primarily focused on the production of high-purity photovoltaic silicon ingots and wafers.

POSCO Future M announced on the 13th that it signed a memorandum of understanding (MOU) with Sila at InterBattery 2026 held at COEX in Seoul on March 11. Sila, headquartered in California, is a battery materials company specializing in high-performance silicon anode technology.

[SMM Silicon-Based PV Morning Meeting Summary: Module Prices Have Softened Somewhat, While Polysilicon Prices Remain Temporarily Stable] Recently, transaction prices for modules in China have softened somewhat. As demand outside China declines and domestic projects are at the point of being about to start, module enterprises have shown differing attitudes in their quotations. Some enterprises have begun offering concessions in advance to take orders, and distributors have also recently started shipments at low prices, thereby leading to a decline in the market transaction price center. At present, quoted prices for distributed Topcon183, 210R, and 210N high-efficiency modules are 0.752 Yuan/W, 0.767 Yuan/W, and 0.77 Yuan/W, respectively, while quoted prices for centralized Topcon182/183 and 210N high-efficiency modules are 0.727 Yuan/W and 0747 Yuan/W, respectively.

Guibao Science (Guibao Tech) announced on the SZSE interactive platform that its 50,000-ton/year silicon-carbon anode and adhesive project for lithium batteries is progressing smoothly. To date, the company has commissioned 3,000 tons of silicon-carbon anode, 10,000 tons of silicone adhesive, and 5,000 tons of polyurethane sealant capacity. For 2026, the plan includes adding another 17,000 tons of capacity, consisting of 7,000 tons of silicon-carbon anode, 5,000 tons of polyurethane sealant, and 5,000 tons of silicone adhesive. Remaining capacity will be released in phases to strengthen the company’s position in the lithium battery supply chain.

[SMM Cast Aluminum Alloy Morning Comment: V-Shaped Rebound in Futures, ADC12 to Fluctuate at Highs in the Short Term] Overnight, aluminum alloy 2604 in the night session bottomed out and showed a rangebound fluctuating trend: after the opening, it quickly fell to around 23,570 yuan/mt, then fluctuated upward, with a trading range of 23,570-23,715 yuan/mt, and closed at 23,710 yuan/mt at the end of the session, down 0.50% from the previous day's closing price. Intraday, it first fell sharply and then staged a V-shaped rebound, before entering sideways consolidation, with the tug-of-war between longs and shorts remaining balanced. Trading volume shrank, open interest edged up slightly, and market sentiment remained cautious.

[SMM Cast Aluminum Alloy Morning Comment: Bulls Lost Momentum at High Levels, Aluminum Alloy Futures Prices Should Watch Lower Support] Last Friday, quotations in the secondary aluminum alloy market were mainly stable. Before noon, fluctuations in futures narrowed, enterprises' willingness to adjust prices weakened significantly, and most producers chose to hold prices steady and wait on the sidelines. In the afternoon, as futures fluctuated downward, some producers began to lower quotations by 100 yuan/mt. Demand side, downstream players still mainly made just-in-time procurement, but amid the pullback in aluminum prices and the approach of the weekend, some enterprises showed slightly stronger purchasing interest, and market transactions improved somewhat from the previous day.