Silicon Wafer Prices Decline Amid Weak Demand as Production Shifts to 210R Models

**Silicon Wafer Prices Decline as Demand Weakens; Production of 210R Increases**

On June 16, 2025, reports indicated a pessimistic outlook for the future pricing trends of silicon wafers in the market. Currently, the price for 183 silicon wafers stands around 0.9 yuan per piece, with downstream buyers adopting a cautious approach to procurement due to weak demand.

In terms of production schedules, there is a strong demand for 210R solar cells. To adapt to these market changes, silicon wafer manufacturers are expected to gradually shift their focus from N-type-183mm silicon wafers to N-type-210R silicon wafers. It is anticipated that the percentage of N-type-210R silicon wafers in total production will rise in July compared to June.

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### Related News
There are mixed opinions regarding the future production of polysilicon, with Inner Mongolia and Xinjiang potentially leading market trends. According to SMM data, global polysilicon production in May is expected to reach around 99,000 metric tons, including 94,500 metric tons from domestic sources, marking a decline of approximately 2% month-on-month from April.

Although downstream wafer production has also decreased month-on-month, overall global wafer production is estimated to be around 57-58 GW. The demand for polysilicon from wafers is approximately 110,000 metric tons, and some destocking is expected in May. Currently, many enterprises hold limited delivery brands, mostly in a few thousand metric tons. However, polysilicon manufacturers are facing some inventory pressure, and the raw material stock at crystal pulling plants is relatively abundant. This situation has contributed to the recent weakness in the polysilicon spot market at the end of Q1 and the beginning of Q2. It is anticipated that this pressure will ease as the supply-demand dynamics improve.

### Selected News
– **CREC Network Tech Adjusts PV Module Tender**: On May 27, CREC Network Information Technology Co., Ltd. announced a change in its 2025 PV module framework procurement. The tender access period has been updated to May 26-30, 2025, with the bid opening date postponed from June 12 to June 16.

– **UK Risks Missing 2030 Clean Power Target**: The UK’s renewable energy expansion is lagging, potentially jeopardizing its clean power goals for 2030 due to rising electricity demands from data centers, according to Aurora Energy Research.

– **Coal Plant Approvals in China and India**: In 2024, China and India approved the largest capacity of new coal-fired power plants in a decade, with China authorizing nearly 100 GW and India 15 GW, according to the International Energy Agency (IEA).

– **EU Carbon Emissions Rise**: The European Union has seen a nearly 11% increase in carbon emissions year-to-date, attributed to decreased wind power output. Should low wind conditions persist through winter, this could result in the first annual emissions increase since 2022.

– **UK Clean Power Grid Goal at Risk**: A House of Lords report indicates that the UK’s aim to achieve a 95% low-carbon electricity grid by 2030 is under threat due to planning delays and infrastructure bottlenecks.

### Market Summary
The overall supply and demand for silicon wafers remain tightly balanced, while solar cell supply is tightening due to subdued demand. The market price for N-type 18X wafers is currently between 0.9-0.92 yuan per piece, and the price for 210R model wafers falls between 1.05-1.1 yuan per piece. Prices continue to weaken, with some producers maintaining offers above 0.9 yuan per piece, while negotiations are ongoing around this price point.

Preliminary estimates suggest that global solar cell production for June will be between 57-58 GW, reflecting a 4-5% month-on-month decline. The tightening supply of solar cells is directly linked to weak demand, and if the imbalance persists, producers may need to further reduce production levels.

### Statistical Brief
From June 9 to June 15, 2025, SMM recorded a total of 32 PV module projects awarded to domestic enterprises. The winning bid prices for PV modules ranged from 0.67-0.84 yuan/W, with a weighted average winning bid price of 0.75 yuan/W, marking an increase of 0.06 yuan/W compared to the previous week. The total procurement capacity for awarded projects was 123.89 MW, a decrease of 388.42 MW from the previous week.

### Recent Developments
Over the weekend, the price of N-type recharging polysilicon was recorded at 34-37 yuan/kg, with the N-type polysilicon price index at 34.11 yuan/kg. Last week, polysilicon prices showed a slight decrease, with some leading manufacturers offering lower prices. Current sentiment in the module sector remains pessimistic, and prices at crystal pulling plants continue to decline.

Haitai New Energy, Trina Solar, Tongwei, LONGi, and others have been shortlisted for the centralized procurement order of Encom Energy’s modules.

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