The CNMIA said in its latest market update that polysilicon prices continued their downward trend this week. The average price of n-type rod silicon is CNY 43,000 ($5,951.48) per ton, down 5.08%. The average price of p-type polysilicon fell to CNY 37,300 per ton, a decline of 4.36%. The average price of n-type granular silicon fell to CNY 37,500 per ton, down 6.25%. Current prices have fallen below production costs, fueling market pessimism. Faced with the prospect of selling at a loss, most manufacturers have opted to halt production and undertake maintenance to navigate the challenging pricing environment. As a result, silicon supply is expected to fall this month, with production levels likely to fall below 180,000 tonnes. In addition, the average price of p-type M10 silicon wafers fell to CNY 1.25 per piece this week, a decline of 20.4%. The average price of n-type G10L wafers fell to CNY 1.24 per piece, down 11.4% on a weekly basis. The average price of n-type G12R wafers is now CNY 1.71 per piece, while the average price of p-type G12 wafers has dropped to CNY 1.9 per piece. In addition, the average price of n-type G12 wafers is now CNY 1.94 per piece, down 11% from the previous week. In May, wafer companies had planned production of around 63 GW, with integrated companies increasing external purchasing due to lower costs. The CNMIA said silicon wafer prices have likely hit a record low. In May, solar cell production targets were set at around 62 GW, with the price of M10 TOPCon cells falling to CNY 0.34/W, a decline of more than 10%. As for modules, a production schedule of 55 GW was outlined for May. The price of 182mm TOPCon bifacial double glass modules fell to CNY 0.86/W, almost 8% lower than the previous week.
TCL Zhonghuan has unveiled plans to raise CNY13.8 billion through the issuance of convertible bonds. The plan includes CNY 3.5 billion for a smart factory project for ultra-thin monocrystalline silicon wafers with an annual production capacity of 35 GW, and CNY 10.3 billion for a 25 GW n-type TOPCon cell smart factory project. The silicon wafer project, with a total investment of CNY 3.65 billion, will be built in the Yinchuan Economic Development Zone in China’s Ningxia Hui region, with an estimated construction period of about 18 months. The 25 GW n-type TOPCon cell-intelligent factory, with a total investment of CNY 10.665 billion, will be located in Guangzhou Yonghe Industrial Zone. It will be realized in two phases, with a total construction time of approximately 24 months.
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