Free-On-Board (FOB) China TOPCon cell prices held steady amid stable week-on-week indications, as market participants continued to assess price direction ahead of the upcoming Shanghai International Photovoltaic Power Generation and Smart Energy Conference & Exhibition, commonly known as SNEC, in early June.
According to the OPIS Global Solar Markets Report released on May 26, FOB China TOPCon M10 cell prices maintained at $0.0482/W with price indications between $0.0460-0.0499/W.
Meanwhile, the newly launched FOB China 210R TOPCon cell assessment averaged $0.0484/W, with indications ranging from $0.0465-0.0505/W.
Trade sources said TOPCon cell prices are expected to remain under downward pressure, weighed by weak end-user demand and higher wafer production, which could pressure downstream cell and module prices.
Despite weaker silver prices over the past two weeks, some cell manufacturers said they continue to expect volatility in the precious metals market. This has led producers to hold offer prices steady as they monitor potential changes in raw material costs.
Silver prices have maintained around the same level over the past two weeks, but remain more than 25% higher over the past six months and around 125% higher year on year.
Some sources added that the market is also watching upstream price movements as potential weakness in polysilicon and wafer prices could help ease cell production costs.
Upstream EXW China Mono Premium polysilicon and FOB China n-type M10 wafer prices have fallen 36.1% and 22.8%, respectively, on a year-to-date basis.
In contrast, downstream cells and module prices have not come under the same degree of downward pressure seen in upstream markets. FOB China TOPCon M10 cell prices have fallen around 2.4% year-to-date, while FOB China mainstream TOPCon module prices remain around 24.5% higher over the same period.
In patent updates, the China National Intellectual Property Administration (CNIPA) has invalidated TetraSun’s Chinese invention patent CN201080027881.6 titled “High-efficiency solar cell structures and methods of manufacture”, according to a notice seen by OPIS. TetraSun is a subsidiary of First Solar.
The ruling is viewed by industry participants as a China-side countermeasure by Jinko Solar, following First Solar’s initiation of a Section 337 investigation in the U.S. into TOPCon solar cells, modules and related products against Jinko Solar and other manufacturers.
Industry sources said that while the CNIPA decision does not directly affect the validity of First Solar’s U.S. patent or the ongoing U.S. litigation, it could support Chinese manufacturers’ arguments around the prior art, technology ownership and patentability in related disputes.
A Chinese industry source added that the ruling offers good support for Chinese solar companies and the wider industry, though it remains unclear whether the China decision will have any influence on the U.S. patent investigation.
According to the China Nonferrous Metals Industry Association (CNMIA), weak end-user demand persists, making it difficult to reverse the oversupply situation in the near term. The association said wafer production output in May is expected to rise by 8-9% month-on-month. CNMIA added that end-user demand has shown no signs of improvement, while downstream buyers continue to push aggressively for lower prices, with current market transactions driven by low-priced inventory and rigid replenishment demand.
OPIS, a Dow Jones company, provides energy prices, news, data, and analysis on gasoline, diesel, jet fuel, LPG/NGL, coal, metals, and chemicals, as well as renewable fuels and environmental commodities. It acquired pricing data assets from Singapore Solar Exchange in 2022 and now publishes the OPIS APAC Solar Weekly Report.
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