Silicon Industry Branch: The domestic component market hits bottom and rebounds, with the price of monocrystalline silicon wafers holding steady.

On February 13th, the Silicon Industry Branch issued a statement stating that silicon wafer prices remained stable this week. The average transaction price for N-type G10L monocrystalline silicon wafers (182*183.75mm/130m/256mm) remained stable at 1.18 yuan per piece; the average transaction price for N-type G12R monocrystalline silicon wafers (182*210mm/130m) remained stable at 1.3 yuan per piece; and the average transaction price for N-type G12 monocrystalline silicon wafers (210*210mm/150m) remained stable at 1.55 yuan per piece. G12R had a very small amount of low-priced orders that were not included in the statistics, and currently, supply of silicon wafers in this size is relatively sufficient. The main reason for the stable operation of silicon wafer prices this week is the game between the upstream and downstream. On the supply side, the silicon wafer production in February is estimated to be around 44GW, a slight decrease from January. There are expectations for further adjustments to the operating rates of first-tier enterprises, with statistics showing that the operating rates of two first-tier enterprises this week are maintained at 50% and 55%, respectively. Integrated enterprises maintain an operating rate between 60% and 80%, while the remaining enterprises maintain an operating rate between 40% and 80%. Currently, some silicon wafer companies still have some inventory on hand, and adjustments in supply for certain sizes due to oversupply are considered normal. The market as a whole is maintaining a destocking state, so the possibility of significant changes in silicon wafer prices is not high. This week, battery and module prices remained stable, with the transaction price for M10 monocrystalline TOPCon solar cells maintained at 0.29 yuan/W; the price of 182mm TOPCon double-sided double-glass modules rose to 0.7 yuan/W, an increase of 2.94% from the previous period. After a long period of depression in the domestic module market, prices finally showed signs of improvement. Following the release of documents related to the marketization of photovoltaic grid-connected electricity prices, there has been a small-scale rush for installation in the domestic market due to anticipated adjustments to the profit calculation models after June 1st. Therefore, preparations are being made in advance, with a focus on when the price increase in modules will be transmitted to the battery side.