PVinsights: Solid demand and inventory building in the channel drive polysilicon price up in Dec.

on-Chinese solar companies, who previously choose to sell polysilicon in the spot for some cash inflow, are stocking up polysilicon inventory as producing wafers on its own may turn more profitable under the current wafer price uptrend.


PV and 2nd grade polysilicon prices are also on the uptrend this week. Non-Chinese solar companies, who previously choose to sell polysilicon in the spot for some cash inflow, are stocking up polysilicon inventory as producing wafers on its own may turn more profitable under the current wafer price uptrend. On the other hand, with great downstream demand, Chinese wafer companies are consuming polysilicon more rapidly and have no choice but to accept the increasing polysilicon prices. Therefore, solid end market demand is supporting the polysilicon price uptrend this week.

Solar module price experiences moderate decline this week despite solid end market demand. On the one hand, the Japanese Yen depreciation pressures overall module prices. On the other hand, some Chinese module makers cut prices in China, Japan, and the US more dramatically in order to reach their annual sales target. As such, the competitive pricing strategy exerts price cut pressure on the overall module price level.

Overall cell price remain stable this week. Some cell companies want to raise their prices along the wafer price uptrend. However, the lower module price is the main driver for the current booming demand. Therefore, with price cut pressure from modules, cells have limited room for price increase.

Overall multi wafer price experience great increase this week under tight supply. Wafer shortage occurs as wafer companies are unable to dramatically increase their utilization rates to meet growing demand. Lack of headcount and lack of capital are main causes for the overall lower wafer company utilizations. Multi wafer price therefore is able to continue the price uptrend. On the other hand, mono wafer price remains stable this week. Mono demand from China is moderately increasing while mono demand from outside of China remains stable. As such, overall mono price is maintained at current price level.

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