This week, the silicon material market continues to be subdued. Due to ongoing price reductions for mainstream downstream silicon wafers, procurement progress among wafer manufacturers has slowed again, primarily focusing on depleting existing inventories. Some companies have seen slight price decreases in newly signed orders, while larger manufacturers maintain firm pricing, indicating a clear market contention in the short term.
| Material | Average Price (CNY/kg) | Average Price (USD/kg) | Weekly Change (%) |
|---|---|---|---|
| N-type polysilicon | 40.5 | 5.59 | -2.88 |
| N-type granular silicon | 37.0 | 5.11 | -0.80 |
| Mono recharge | 36.2 | 5.00 | -0.55 |
| Mono dense | 34.3 | 4.73 | -0.58 |
| Mono popcorn | 31.3 | 4.32 | -0.32 |
According to the feedback of relevant enterprise personnel, 15 enterprises are in the maintenance or load reduction state this week, of which one has gradually reduced production since this month. Supply of silicon this week is expected to be higher than previously expected, according to data from Solarbe Consulting. At present, although the enterprises actively promote production cuts, the pattern of market oversupply has not been significantly improved, the terminal demand continues to cool, and the price of silicon material is still possible to further decline.
On the silicon side, prices held steady this week. Recently, the silicon chip industry has held several self-regulatory meetings to improve the market environment through coordinated production cuts. It is reported that a head pulling company took the lead in further reducing the operating rate, from 40% planned at the beginning of the month to about 30%. According to data from Solarbe Consulting, domestic silicon wafer production is expected to fall below 40GW in November, and the operating rate of the first and second-tier enterprises is generally maintained between 30%-40%. At present, the inventory of silicon chips continues to decline slightly, the old inventory is gradually cleared, and the inventory pressure has been eased. In the short term, the market supply and demand tend to balance, and the price of silicon wafers is expected to remain stable.
On the battery side, prices remained stable this week. Recently, the Ministry of Finance and the State Administration of Taxation issued the “Announcement on Adjustment of Export Tax Rebate Policy”, reducing the export tax rebate rate of some photovoltaic cell products from 13% to 9%, which will take effect on December 1, 2024.
At present, battery manufacturers are stepping up the delivery of orders, while taking different strategies for subsequent orders, including raising the offer to overseas customers or assessing the difference in tax rates to bear themselves. Solarbe Consulting data show that battery production in November is expected to be 50-52GW. The current battery inventory is at a low level, and battery prices are expected to rise under the support of demand.
