EN 
PT_BR 
You photovoltaic module prices with delivery in January showed a drop in the first days of the year, according to the bulletin from InfoLink Consulting, which considers the values practiced between December 28th and January 3rd. The price drop was observed for both PERC modules and TOPCon panels.
According to the consultancy, the reason for this drop was a lower number of orders this year, compared to the same period last year. As a result, small, medium and large manufacturers in China reduced production.
Between the PERC monofacials orders were delivered at RMB 0.88-1.03/W for 182mm and RMB 0.89-1.03/W for 210mm. Despite the drop, Infolink Consulting, due to a variety of factors, PERC cell prices are about to rise, indicating increasingly smaller drops in module prices.
Now for those TOPCon modules prices have fallen to RMB 0.88-1.05/W as manufacturers begin to supply new orders. New orders are being delivered at RMB 0.9-0.95/W while previous orders at RMB 0.98-1.05/W, showing a significant difference. In markets outside of China, prices stood at USD 0.12-0.13/W.
Meanwhile, due to an indecisive market and cost factors, HJT module prices remain stagnant. So far, prices in China are at RMB 1.2-1.25/W, while overseas prices range between USD 0.150-0.165/W.
Cell prices stabilize
After two months of decline at the end of 2023, cell prices have stabilized at low levels. P-type M10 cells have recovered – a balance between supply and demand after extensive production cuts and shutdowns. Although it is still early days, manufacturers are confident that the price will rise in the near future.
Prices of P-type M10 cells remained stable at RMB 0.36-0.37/W. Few manufacturers made sales at 0.36/W this Wednesday (3), with prices reaching RMB 0.37-0.38/W. P-type G12 cells were sold at RMB 0.37/W, restoring prices to the same level as M10.
N-type M10 cells stabilized at RMB 0.47/W, with the price difference between PERC and TOPCon being between 0.1-0.11/W. The G12 HJT model, mainly for internal use and less for external sales, prices reached RMB 0.65-0.7/W for high efficiency models.
According to Infolink Consulting, at the moment, the production of cells of all formats operates at a loss, so most manufacturers have made production cuts.
Polysilicon
The polysilicon market showed mixed results in the first week of 2024, with manufacturers delivering previous orders while some accepted new orders. According to the consultancy, current demand suggests a low number of purchases during the Lunar New Year holiday.
In China, prices for monocrystalline polysilicon diverged. N-type ingots remained at RMB 65-68/kg. Lower quality ones fell to RMB 55-62/kg. For granular polysilicon, supply is more concentrated and prices are clearer, remaining at RMB 55-60/W. New additions are subject to the progress of the new plant in Hohhot.
Wafer
The wafer market continued to fall this week. Changes in the supply and demand of P-type wafers are worthy of attention. Despite the drop in demand, due to cuts in the production of PERC cells, there was an increase in the production of type N ingots at the end of 2023 for 60-70%.
The prices of P-type wafers were RMB 1.9-2/piece, and RMB 3/piece for M10 and G12 types, respectively. Significant changes in wafer prices are unlikely this year. Production will be tied to usage rates and production plans before the Lunar New Year. After that, changes in usage will cause small price fluctuations.
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