PVinsights : The global demand improvement and currency exchange rates improve solar module prices.

Overall module price improves globally this week, owing to the price quotes in different regions moving up by currency exchange rate or the demand improvement. The increasing large-scale solar projects moving forward are driving up module demand, especially in India and China. Moreover, as the demand continues to heat up in China and the emerging markets, some top-tier module suppliers are able to adjust their selling prices up in those low-priced regions.

Overall module price improves globally this week, owing to the price quotes in different regions moving up by currency exchange rate or the demand improvement. The increasing large-scale solar projects moving forward are driving up module demand, especially in India and China. Moreover, as the demand continues to heat up in China and the emerging markets, some top-tier module suppliers are able to adjust their selling prices up in those low-priced regions. Fortunately, the JPY and the EUR against USD have appreciated by 4% recently, bringing up module prices in these markets by the terms of USD accordingly. Finally, module price in the US is climbing up slightly as well, but the raising scope is not as significant as in the other regions, as the prices are already highest one over the world. With bullish module demand across different markets, the overall module prices start to rise this week.

Multi-crystalline cell price increases this week as well, while the mono-crystalline cell price is stabilizing. As the end-market module price finally improves, solar cell buyers are willing to accept the rising price quotes from cell suppliers at the moment. In the meantime, benefiting from RMB depreciation two week ago, Chinese cell suppliers are tuning up their selling prices more aggressively. Moreover, the improving cell demand from Chinese manufacturers also helps the solar cell price outside China and leads to an inevitable rise in cell prices outside China. For the outlook of mono cell this week, the demand is actually gradually and slowly improving, although the volume of orders remains somewhat inconsistent. Furthermore, after mono module makers scaled down their production volume, the mono cell prices are stabilizing. As a result, the mild demand recovery and production cut finally cease the mono cell price downtrend this week.
Multi-crystalline wafer prices are on the rise this week, mainly driven by price increase in China, while mono-crystalline wafer prices remain a tender drop. The negative impact of the RMB depreciation is already subdued, and due to the significant improvement of demand and selling prices from downstream solar manufacturers, wafer producers are able to hike up their prices as well. The Chinese suppliers are particularly aggressive in their efforts to increase selling prices, as they also factor in what is considered to be an imminent increase in polysilicon prices inside China following the full implementation of AD and CVD barriers in September. Non-Chinese suppliers are also able to follow from the trend and increase their price quotes, although the upward trend is less significant compared to Chinese market. On the other hand, mono-crystalline wafer prices drop mildly this week. The lower pricing of second-tier suppliers still put mono-crystalline wafer prices under pressure, but as their behaviors are becoming less aggressive, first-tier suppliers are more able to sustain their current price quotes.
Polysilicon prices are flat this week, inside China as well as outside its borders. The impact of the RMB depreciation has reflected over prices in the past weeks but is no longer driving prices down as the RMB has stabilized. As September approaches and the full implementation of Chinese AD and CVD trade barriers becomes imminent, polysilicon sellers and buyers alike are mainly observing the market, and trading activities are currently lessened. Outside China as well, prices are stabilized at their current level, with fortunately no sign of further deterioration, although a price recovery is also difficult at the time being. Currently, the polysilicon market is essentially holding its breath and awaiting the start of September, which should then set prices into motion again.

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