N-type silicon prices have dropped again, as per the latest data from China’s Silicon Industry Branch. This comes as 17 companies, including some leading manufacturers, announce maintenance plans to stabilize supply and demand.
According to the latest price on May 29, n-type ingots saw an average price of CNY 41.8 per kg over the past week—a 2.79% decline from the previous week.
Meanwhile, prices for n-type granular silicon and p-type materials remained stable.
Solarbe Global Polysilicon Prices Weekly Update (May 24-May 30, 2024)
| Material | Price Range (CNY/ton) | Average Price (CNY/kg) | Weekly Change (%) | Average Price (USD/kg) |
|---|---|---|---|---|
| N-type | 40-43 | 41.8 | -2.79% | 5.77 |
| N-type granular silicon | 37-39 | 37.5 | 0.00% | 5.18 |
| Mono recharge | 36-41 | 38.6 | 0.00% | 5.33 |
| Mono dense | 34-39 | 37.3 | 0.00% | 5.15 |
| Mono popcorn | 31-36 | 33.7 | 0.00% | 4.65 |
Despite these price drops, the polysilicon market has been sluggish, with most transactions being small and sporadic. Many silicon manufacturers are stockpiling their products to maintain price levels.
By the end of May, at least nine companies, including four major manufacturers, had initiated maintenance shutdowns. This has led to a slower growth in inventory, with May’s production estimated at 180,000 tons, keeping stock levels between 280,000 and 300,000 tons.
All polysilicon manufacturers plan or have already started maintenance, suggesting an improvement in market supply and demand dynamics soon.
In the wafer sector, prices have remained stable this week. According to Solarbe Consulting, May’s wafer production is about 60 GW, with a further decline expected in June and a noticeable reduction in inventory. As silicon prices stabilize, wafer prices are also expected to bottom out.
In the cell segment, prices continue to decline, with n-type cells experiencing the largest drop at 5.4%. Many cell manufacturers are reducing production schedules, with some beginning inventory clearance by the end of the month.
P-type cell profitability has slightly recovered, while n-type cells are sold at a loss. The risk of inventory buildup is mounting in the downstream market, suggesting further production cuts and potential price drops in June.
Module prices have also seen a slight decrease this week. In a recent procurement by Beijing Energy Group, a bid as low as CNY 0.76/W was recorded. However, most mainstream PV companies aim to stabilize market prices and avoid irrational bidding.
As installation demand increases, further module price declines appear limited.
