Global solar module prices fall due to weak demand – pv magazine International

16 August 2024 DESCRIPTION

In the Chinese marketThe majority of module sellers surveyed by OPIS stated that the TOPCon FOB China market was calm and prices were stable, although there were some buyers in the market who were negotiating prices down. There were market rumors of TOPCon prices below $0.09/W FOB China, with one buyer pointing out that there were offers for TOPCon Class A loads of 580-585W and load sizes above 10MW for $0.081-0.086/W. However, sellers surveyed by OPIS stated that there were no transactions at this level.

Most market discussions continued to take place at USD 0.095-0.10/W FOB China. The Chinese Module Marker (CMM), the OPIS benchmark valuation for TOPCon modules from China, was valued at USD 0.096/W, unchanged from the previous week, while prices for mono PERC modules remained stable week-on-week at USD 0.090/W.

A pessimistic mood prevailed in the Chinese domestic market as recent large-scale public tenders such as China Coal Group's 4GW tender had attracted low bids of CNY 0.7134 ($0.100)/W for N-type modules and CNY 0.7104/W for P-type modules. Many market participants expect module prices to fall to CNY 0.70/W in the coming weeks, an industry source said. Mono PERC module prices were estimated at CNY 0.777/W, unchanged from the previous week, while TOPCon module prices remained unchanged week-on-week at CNY 0.801/W.

In the European marketOPIS estimated that TOPCon modules shipped to Europe were lower week-on-week at €0.109 ($0.12)/W, with estimates ranging from €0.100/W to €0.120/W. While delivery prices have eased in recent weeks due to a seasonal lull, a market source noted that freight rates for August still remain at high levels compared to previous months.

According to OPIS records, freight rates from China to Rotterdam in August are around US$7,000 to US$8,000 per 40-foot energy unit (FEU), or about US$0.0189 to US$0.0192 per watt, which is 30% higher than in June. According to a European trade source, TOPCon modules are expected to cost between €0.100 and €0.110 per watt until delivery in Q2 2025, depending on the project size.

In the US market, Spot prices for TOPCon modules delivered duty paid (DDP) in the US fell to $0.291/W this week, with indications from $0.260/W to $0.320/W, while prices for first-quarter 2025 deliveries averaged $0.311/W and ranged from $0.280/W to $0.350/W. OPIS estimated prices for US mono PERC modules for fourth-quarter deliveries at $0.249/W, with indications from $0.200/W to $0.295/W, while 2025 deliveries were around $0.27-0.34/W.

A major U.S. buyer said prices for TOPCon modules from India and Southeast Asia due to ship this year have recently dropped. Another North American source noted growing concern among developers as fall approaches, particularly with the increased risk of tariffs from Southeast Asia. Trade officials significantly expanded the scope of AD/CVD investigations this spring, increasing the likelihood of finding anti-market behavior in the four target countries. The White House has not yet provided clarity on whether there will be any exemptions or grace periods for technology companies.

OPIS, a Dow Jones company, provides energy prices, news, data and analysis on gasoline, diesel, jet fuel, LPG/NGL, coal, metals and chemicals, renewable fuels and environmental goods. It acquired price data sets from the Singapore Solar Exchange in 2022 and now publishes the OPIS APAC Solar Weekly Report.

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