PVinsights: The strong USD against Euro and JPY continues to drag module price down in Oct.

Japanese and European system installers require stable module price in local currency and lower module prices in USD term because of the weakening EURO and JPY.

Overall module price drops moderately in Oct. As module price in the US is currently the best in the world, Chinese module makers still can earn profit under the US AD and CVD imposed. Therefore, Chinese module makers continue to ship modules to the US, which put price pressure on the US module prices. In addition, Japanese and European system installers require stable module price in local currency and lower module prices in USD term because of the weakening EURO and JPY. In China, the demand recovery is not strong enough to improve the module price. As the result, module price falls by strong USD and the disappointed China market condition.

Overall cell price is flat in Oct. Because demand on multi cells does not improve further and some 2nd cell makers still have spare capacity, overall multi cell price remains stable. Furthermore, solar module players are driven by lower module price so as to force them demand on lower efficiency multi cells to fit their lower cost targets. As for mono cell price, the mono module price drop, which is caused by the weak JPY and Euro, puts price pressure on mono cell makers. On the other hand, some Taiwanese cell makers want to increase the mono cell price, because mono cell demand remains solid. As a result of solid demand and weak currency, cell prices are unchanged in Oct.
Overall wafer price remains stable in Oct. Although some wafer makers intend to raise wafer price, major Chinese wafer makers give up price raising in Oct. Moreover, wafer buyers do not accept the wafer price increasing because the mild Chinese demand recovery does not make market tight and downstream component prices are stable or down currently. As such, mono wafer and multi wafer prices are flat in Oct.
Overall polysilicon price maintains stable in Oct. Although major polysilicon sellers continuously intend to make their prices up because the polysilicon handbook will become invalid after 31st December, the weaker-than-expected Chinese domestic recovery and stable wafer price do not support the pricing strategy of polysilicon sellers. Therefore, both PV grade silicon and 2nd grade silicon price is flat in Oct.

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