The China Nonferrous Metals Industry Association (CNMIA) says that the average price of n-type polysilicon fell by 5% to 6% this week.
The CNMIA said in its latest market update that polysilicon prices continued their downward trend this week. The average price of n-type rod silicon stands at CNY 43,000 ($5,951.48) per ton, down 5.08%. The average price of p-type polysilicon fell to CNY 37,300 per ton, down 4.36%. The average price of n-type granular silicon plunged to CNY 37,500 per ton, down 6.25%. Current prices have fallen below production costs, driving market pessimism. Faced with the prospect of selling at a loss, most manufacturers have opted to halt production and undergo maintenance to navigate the challenging pricing environment. As a result, the supply of silicon is expected to fall this month, with production levels likely to drop below 180,000 tons. In addition, the average price of p-type M10 silicon wafers fell to CNY 1.25 each this week, down 20.4%. The average price of n-type G10L wafers fell to CNY 1.24 per piece, down by 11.4% on a weekly basis. The average price of n-type G12R wafers now stands at CNY 1.71 each, while the average price of p-type G12 wafers has fallen to CNY 1.9 per piece. In addition, the average price of n-type G12 wafers is now at CNY 1.94 per piece, down 11% from the previous week. In May, wafer enterprises had planned around 63 GW of production, with integrated enterprises ramping up external procurement due to lower costs. The CNMIA said that silicon wafer prices have likely entered a bottoming-out phase. In May, solar cell production targets were set at approximately 62 GW, with the price of M10 TOPCon cells dropping to CNY 0.34/W, down more than 10%. On the module front, a production schedule of 55 GW was outlined for May. The price of 182 mm TOPCon bifacial double-glass modules fell to CNY 0.86/W, down nearly 8% from the previous week.
TCL Zhonghuan has revealed plans to raise CNY 13.8 billion by issuing convertible bonds. The plan includes CNY 3.5 billion allocated for an ultra-thin monocrystalline silicon wafer smart factory project with an annual output capacity of 35 GW, and CNY 10.3 billion for a 25 GW n-type TOPCon cell smart factory project. The silicon wafers project, with a total investment of CNY 3.65 billion, will be built in the Yinchuan Economic Development Zone in China’s Ningxia Hui region, with an estimated construction period of around 18 months. The 25 GW n-type TOPCon cell intelligent factory, with a total investment of CNY 10.665 billion, will be located in the Guangzhou Yonghe industrial zone. It will be implemented in two phases, with a total construction period of approximately 24 months.
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