Latest Update in the SMM Separator Market

[SMM Silicon-Based PV Morning Meeting Summary] Polysilicon: N-type recharging polysilicon was quoted at 34-36.1 yuan/kg. Polysilicon prices were relatively stable overall, with extremely limited order signing in the market. Some crystal pulling plants showed low-price purchase willingness, but top-tier manufacturers still held the floor above 35 yuan. With cost setting imminent, manufacturers had a strong wait-and-see sentiment. Wafer: Market 18X wafer prices were 0.9-0.93 yuan/piece, 210RN wafer prices were 1.00-1.03 yuan/piece, and 210N wafer prices were 1.2-1.23 yuan/piece. Recently, a top-tier enterprise completed bulk transactions of 210R wafers at 1.02 yuan/piece. Currently, except for 210N, the other two sizes had already accepted the previous round of price increases, and subsequent trends would depend on downstream cell price movements.

[SMM Silicon-Based PV Morning Meeting Minutes: Polysilicon Prices Temporarily Stable, Module Prices Relatively Weak] Last week, China's module prices were in the doldrums, with transaction prices loosening in some areas, but the mainstream market transaction range had not undergone major adjustments. Currently, there remained a certain price spread between leading and second- and third-tier enterprises, with the market exhibiting a tug-of-war between holding prices firm and making concessions on shipments. Currently, distributed Topcon 183, 210R, and 210N high-efficiency modules were quoted at 0.7445 Yuan/W, 0.752 Yuan/W, and 0.755 Yuan/W respectively, while centralized Topcon 182/183 and 210N high-efficiency modules were quoted at 0.724 Yuan/W and 0.744 Yuan/W respectively.

This week, silver ingot market premiums remained at a slight discount. Although spot premiums did not continue to decline WoW, consumption remained relatively weak, and silver ingot social inventory continued to accumulate.

[SMM Silicon-Based PV Morning Meeting Minutes] Polysilicon: N-type recharging polysilicon was quoted at 34-36 yuan/kg. Polysilicon prices remained relatively stable during the holiday, with extremely limited order signing in the market. Crystal pulling plants had no significant procurement demand for the time being. Post-holiday surveys and conferences were scheduled, and the market was watching subsequent developments. Wafer: Market prices for 18X wafers were 0.9-0.93 yuan/piece, 210RN wafers were 1.00-1.03 yuan/piece, and 210N wafers were 1.2-1.23 yuan/piece. During the holiday, wafer prices remained stable, and cell prices were expected to rise after the holiday.

This week, the silver ingot market premium maintained a slight discount. Consumption performance remained relatively weak. Under the broader environment of invoice rectification, the market overall exhibited sluggish trading on both sides, and silver ingot social inventory continued to accumulate.

[SMM Silicon-Based PV Morning Meeting Summary] Silicon metal: Yesterday, SMM east China oxygen-blown #553 silicon was at 9,000-9,200 yuan/mt, and #441 silicon was at 9,200-9,400 yuan/mt. Pre-holiday downstream procurement saw strong sentiment to push for lower prices. Some suppliers made minor concessions on transactions, while most maintained stable quotes. Supply and demand remained weak, and the market was in a stagnant consolidation. Polysilicon: N-type recharging polysilicon was quoted at 34-36.3 yuan/kg. Polysilicon prices were relatively stable this week overall, with extremely limited order signing in the market. Crystal pulling plants had no significant procurement demand for the time being. Related meetings concluded, with some results falling short of expectations, and wait-and-see sentiment in the market increased.