At present, China's domestic demand is stable, and the benefits of ground-based projects have started, making the price supportive to a certain extent. Recently, the execution price of 500w+ double-glass modules has remained stable at about 0.270-0.284 USD per watt and the price difference of single glass is about 0.001-0.004 per watt. In the fourth quarter, the overall price range was chaotic, and some long-term orders were also executed at low prices. However, due to cost pressure, some contracts have been slightly raised to 0.274-0.284 USD per watt. The price drop in the supply chain in the fourth quarter is uncertain.
Supported by demand in November, TOP5 manufacturers maintained high operation to support module output in November, with a slight increase from October. However, under cost pressure, the operating rate of some small and medium-sized module manufacturers may decrease. In addition to the continuous increase in cell prices, some auxiliary materials are also brewing in November.
For auxiliary materials, the current price of glass is about 3.529-3.667 USD per square meter. Due to factors such as rising glass production costs and low inventory levels, new orders signed in November hope to increase by 0.138-0.277 USD per square meter. The current price of 480 grams of high-permeability EVA film is 1.868-1.937 USD per square meter and the price of white EVA film is about 1.937-12.006 USD per square meter. Due to the maintenance plan of some particle manufacturers in November, the subsequent production may be affected, and the price of film in November is expected adjust for a 10% increase. However, at present, the cost pressure of module manufacturers is heavy. Considering that the new glass furnaces continue to be launched, and the pre-inventory of plastic film particles can still support the supply, the supply corresponding demand in November is still relatively sufficient, and the price increase of plastic film and glass may be relatively limited.
In the overseas part, except for the exchange rate fluctuations that have not stabilized, it is worth noting that the shipping fee fell sharply from September to October. With the increase in inflation pressure, the demand in the fourth quarter is also wait-and-see. Compared with September, the drop in October is about 25-35%. The average price of modules has stabilized at about 0.25-0.265 USD per watt and the current price of FOB in Europe is stable at about 0.25-0.28 USD per watt. The FOB price in the Asia-Pacific region is about 0.245-0.255 USD per watt, and the FOB price in Brazil is about0.245-0.255 USD per watt. The local FOB price in India is about 0.32-0.36 USD per watt. The DDP price of components in Southeast Asia in the United States is 0.41-0.44 USD per watt and the local DDP price is about 0.5-0.6 USD per watt.
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