Multi-crystalline module demand rises this month, lifted by gains in emerging countries and demand recovery in China on government's subsidy-free target, raising multi-crystalline module prices up mildly, but budget concerns over the project return kept project investors¡¦ enthusiasm in check. Besides, some On the other hand, mono-crystalline PERC module prices keep flat amid the solid demand in Europe, the US and Japan, but major players raise concerns over the increasing supply against the waning market demand in China.

Multi-crystalline module demand rises this month, lifted by gains in emerging countries and demand recovery in China on government's subsidy-free target, raising multi-crystalline module prices up mildly, but budget concerns over the project return kept project investors¡¦ enthusiasm in check. Besides, some On the other hand, mono-crystalline PERC module prices keep flat amid the solid demand in Europe, the US and Japan, but major players raise concerns over the increasing supply against the waning market demand in China. In China, due to the project cost considerations, lots of project developers are turning their solar panel adoptions back to multi-crystalline one so as to reduce the portion of mono-crystalline PERC modules.

Polysilicon prices hold steady amid the balanced market condition and the CNY stabilization against USD this week. Although some suppliers continue to keep their production utilization rates at low, caused by high electricity and cash costs, while major Chinese suppliers keep ramping up their leading edge production lines with lower costs, overall supply is still sufficient enough to fulfill the demand. Moreover, even as the inventories of multi grade polysilicon keep increasing in the supply chain, all Chinese suppliers have not initiated any price competition to get rid of the inventories.

Multi-crystalline wafer prices remain stable amid the demand recovery in China and the increasing supply. Although there is sufficient supply from the existing production capacity, the recent demand recovery helps suppliers to stabilize the price quotes in China. Regardless of the demand improvement in China, overseas demand is still too weak to surpass the supply, along with the stable price in China, major Chinese suppliers are able to make the same price quotes as last week. On the other hand, the supply and demand of mono-crystalline wafers remain constant to keep the price flat this week with concerns related to the probability of demand weakness and supply improvement in the coming months.

The increasing orders and the rising price quote for June from the largest supplier have sent multi-crystalline cell prices to rise this week. Due to subsidy-free target in China, Chinese project developers have to consider budgets over the adoption of multi-crystalline module to meet their investment return. With the increasing demand in China, major solar module makers are coming back to place their orders on multi-crystalline cells. Meanwhile, the demand of high efficiency mono-crystalline PERC cells have tempered as the demand in China have shown the possibility of weakness in the coming months. Facing the ongoing aggressive mono-crystalline PERC cell capacity expansion in China, major suppliers are raising concerns over the price competition to secure the orders. Therefore, mono-crystalline PERC cell prices are relatively unsustainable in contrast to the rising of price multi-crystalline ones.