PVinsights:The Clam before the Storm

Polysilicon price continues to grow in this week amid the rising price out of China. Although the polysilicon price in China surged more than 30 percent gain in the past three months, the price in China this week stands still, resulted from the strong wait-and-see attitude among buyers and sellers as trading frenzy in China unwound and swelling productions revives the concerns on oversupply. On the other hand, while non-American polysilicon suppliers raises their shipments to China to take advantage of higher spot prices, the diminished supply outside of China leads the price to advance with noticeable rate this week. As the result, despite the overall polysilicon price remains on the ascension this week, the weakened sentiments and the halted rally in China signal the weighed concern of an increase in global supply with REC silicon planning to resume production.

Polysilicon price continues to grow in this week amid the rising price out of China. Although the polysilicon price in China surged more than 30 percent gain in the past three months, the price in China this week stands still, resulted from the strong wait-and-see attitude among buyers and sellers as trading frenzy in China unwound and swelling productions revives the concerns on oversupply. On the other hand, while non-American polysilicon suppliers raises their shipments to China to take advantage of higher spot prices, the diminished supply outside of China leads the price to advance with noticeable rate this week. As the result, despite the overall polysilicon price remains on the ascension this week, the weakened sentiments and the halted rally in China signal the weighed concern of an increase in global supply with REC silicon planning to resume production.


The scope for price correction of multi-crystalline wafer is still limited this week. Although the price remains pressured, because of the partial production curtailments on multi-crystalline cells, the high cost level of polysilicon and the solid wafer consumption by 1st tier buyers enable multi-crystalline wafer suppliers to minimize the price correction without drastic deterioration. Meanwhile, mono-crystalline wafer price remains stable this week. As prompted by Chinese government policies to adopt higher efficiency products and more solar cell makers shift productions to mono-crystalline cell, the demand of mono-crystalline wafers has seen an obvious improvement. Nevertheless, even with the reinforced demand, mono-crystalline wafer price is still being suppressed by the tremendous pressure from slumped downstream.

Multi-crystalline cell price halts the longest losing streak in 2016 after Chinese New Year indicating that lower supply by migrating production to mono-crystalline ones to rebalance the market is taking effects. In attempts to stabilize the price, solar cell makers strategically convert the production of multi-crystalline cell into that of mono-crystalline cell. Meanwhile, mono-crystalline cell price sees the further mild declining this week. With the better profit margin on mono-crystalline cells, major suppliers have moved into an increased supply on mono-crystalline cells by a production migration from multi-crystalline cells. On the other hand, due to the top runner incentives in China, there is an increase in mono-crystalline cell demand. The price of mono-crystalline cell price drop mildly this week amid the increasing supply and the demand improvement.

Both multi-crystalline and mono-crystalline module price declines tenderly this week. The solar panel price in China remains pressured due to persisted price competition for solar projects. In Japan, the weakened domestic demand has forced module makers to offer slashed prices in attempt to stimulate the market, yet the effort has not signed any demand recovery. In EU, the pressured module prices are resulted from the sliding cell prices, however, the demand in Germany and France have seen signs of recovery, helping the price to fall rather limitedly. Meanwhile, the outlook of India and SEA are widely expected to boom consistently, which lead the regional module price slumps extend this week due to the fierce price competition among global module makers. In a summary, the price drops of both multi-crystalline and mono-crystalline modules turn slower this week amid the mild competition in some regions.

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