The latest data from a market tracker shows that silicon wafer quotations have increased slightly this week, though actual trading volumes remain low. The market is currently in a tug-of-war between upstream and downstream players, but expectations of policy adjustments are significantly boosting market sentiment. In the short term, the silicon wafer market is expected to trend toward stabilization and improvement.

On the pricing front, the maximum quote for N-type G10L monocrystalline silicon wafers (182*183.75mm/130μm) has reached 0.90 RMB per piece, with an average transaction price of 0.80 RMB per piece. N-type G12R wafers (182*210mm/130μm) have a top quote of 1.0 RMB per piece, with an average transaction price of 0.90 RMB per piece. For N-type G12 wafers (210*210mm/130μm), the highest quote is 1.2 RMB per piece, while the average transaction price stands at 1.10 RMB per piece. Actual transaction prices for all models remain unchanged from last week.

According to research, downstream cell prices have surged significantly compared to last week, while module prices have seen a modest increase. Cell prices now range from 0.27 to 0.28 RMB per watt, up 7.84% week-on-week. Module prices are currently between 0.68 and 0.70 RMB per watt, a 2.22% increase from the previous week. This week, driven by expectations of relevant policy implementation, firm upstream polysilicon prices, and rising downstream cell prices, pessimism among silicon wafer manufacturers has eased, with many now holding a bullish outlook for the future.

Specifically, firm upstream polysilicon prices, supported by industry self-discipline and policy expectations, are providing cost support for silicon wafers. Additionally, the implementation of the U.S. Section 232 policy, combined with rising silver powder prices, has increased overseas demand for cells and pushed up their prices, thereby boosting procurement demand for silicon wafers. As a result, some leading silicon wafer companies have started to raise their quotes, while others are controlling their shipment pace, even suspending the release of low-priced inventory. However, the current mismatch between supply and demand in the silicon wafer market is creating resistance to price transmission. Consequently, the market is experiencing a scenario of slightly higher quotes with no significant changes in actual transaction prices this week.

Research indicates that the overall industry operating rate remains flat compared to last week, with no significant changes. The two leading companies are running at 52% and 54% capacity, respectively. Integrated companies have operating rates between 56% and 60%, while other companies report rates ranging from 50% to 78%.