Newsletter summary

The price of photovoltaic materials generally fell this week.TingobingoSilicon prices continue to lead the decline, and the industrial chain continues to be weak. Despite the increase in photovoltaic installed capacity in the first quarter, exports face the risk of trade protectionism, market demand is weak, and the industry needs to be on guard against vicious price competition and overcapacity.

Text of news flash

[the price of photovoltaic materials is weaker this week, and the weak state of the supply chain is difficult to reverse]

According to the research information, the price of the main materials in the photovoltaic industry continued to decline this week, and the markets at home and abroad showed a downward trend of concussion. Silicon prices continued to lead the decline this week, wafers, components and battery prices mostly fell, while auxiliary materials prices diverged, including quartz sand, plastic film, inverter prices continued to fall, silver paste prices rebounded.

Newly installed photovoltaic plants in China in the first quarter 45Tingobingo.74GW, overseas installed capacity has also maintained steady growth, and the global installed capacity is expected to be close to 500GW in 2024 under an optimistic scenario, but the slowdown in growth is inevitable. Upstream inventory continues to accumulate, although wafer manufacturers cut production in April and May, but inventory continues to increase. Although the operating rate of silicon enterprises has declined, the release of new capacity has led to an increase in actual production rather than a drop in production, the demand for production reduction in the lower reaches of silicon wafers has weakened, silicon inventory has continuously reached record highs, and it is inevitable to reduce production in the later stage.

In March, exports from most sectors rose sharply from the previous month, and overseas demand was in good shape. However, with the recent actions taken by European and American countries on the overseas business of China's new energy enterprises, we need to guard against the risk of higher-than-expected decline in exports caused by the rise of trade protectionism.

Risk tips include a surge in supply caused by industry expansion, and vicious competition may lead to a fall in higher-than-expected pricesTingobingo; installation demand is lower than expected; and overseas capacity expansion and trade protection and other issues. Investors should pay close attention to the above risk factors.