In China, most domestic module makers are reducing their inventory levels in preparation for their annual financial report, which leads to an increase in module supply on the local market. As domestic demand in China remains solid, the added market supply can be fully digested.

Overall module price steps down mildly this week. In the EU and the US, holidays starting this week result in flat module demand. In Japan, while the demand is still stable, the weak JPY against the USD are driving down module prices in USD denomination. In China, most domestic module makers are reducing their inventory levels in preparation for their annual financial report, which leads to an increase in module supply on the local market. As domestic demand in China remains solid, the added market supply can be fully digested, although the additional supply heightens the price pressure in China. Hence, affected by an augmented supply in China and a moderate decrease in demand, overall module price follows a mild downward trend.

Overall cell prices fall this week. Multi cell prices are dropping moderately. In China, cell demand has started to dwindle, thereby raising downward pressure on multi cell price. However, since module makers are conducting their cell procurement in advance of next Februarys Chinese Lunar New Year holiday, demand remains strong enough for multi cell price to only slide down slightly. As of mono cell price, the decrease is more serious in comparison, without the support of Chinese demand. Finally, cell prices in Taiwan are relatively stable, as demand for their high efficiency cells remains solid.

Wafer price maintains a downtrend this week, with mono wafer price deteriorating more than multi price. While multi wafer demand is slowing down, multi wafer price only declines moderately, thanks to wafer buyers are increasing their wafer stocks at the current point in anticipation of the demand during Chinese Lunar New Year holidays, which partially eases the downward pressure on prices. On the contrary, mono wafer price, influenced by the low season in EU and US, worsens more considerably than the multi prices.

Overall polysilicon price keeps its descending trend this week. Both polysilicon makers and traders continue to provide low-price polysilicon to the market this week to adjust their inventory levels down as the end of the fiscal year approaches. In addition, the selling prices of first grade polysilicon in China are still higher than their production costs. In other terms, there is still room for makers to cut their selling price further. Fortunately, as the downstream market demand remains stable, global polysilicon price goes down relatively gently.