Photovoltaic cell inventory continues to decline, manufacturers are evaluating plans to resume production and increase output in March.

In March, the global production of battery cells by Chinese companies in the sample increased by 26% month-on-month. With the approaching window of the cancellation of the photovoltaic tax refund policy, manufacturers have resumed production enthusiasm, and March production increase plans have been made based on downstream component orders and risks assessment of silver price pullback. The inventory of battery cells continues to decrease, and overseas orders and orders from downstream traders are the main sources of current demand. Manufacturers with stable overseas sales channels have performed well in March, with fewer new inventories.