Silicon PV Market Morning Meeting Summary – Metal Industry News
Last week, silicon metal prices took a tumble, with above-standard #553 silicon metal in east China selling for 11,300-11,400 yuan/mt, down 150 yuan/mt from the previous week. Meanwhile, silicon futures Si2502 contract hit a new low at 11,235 yuan/mt. Market sentiment is pretty negative about the outlook at the moment.
Over in the PV industry, some exciting news is brewing. China Three Gorges Corporation just released the tender announcement for the second batch of 2024 PV inverter and fixed support frame concentrated procurement. This project, with an estimated total procurement capacity of 3GW, aims at string inverters of 300kW and above for PV projects under the corporation. Pretty big stuff!
Speaking of solar power, the Biden administration is considering exempting tariffs on solar equipment imported from Mexico. This move could benefit the Chinese-funded PV company Maxeon, with their factory in Mexico capable of producing 2.5 GW of components annually. The policy’s sustainability remains uncertain, though, as previous threats of tariffs on Canada and Mexico could complicate matters.
On the bright side, the last month saw some impressive growth in PV installations in China, with 25 GW of new capacity added in November alone. Cumulatively, the country has added a total of 206.3 GW of PV capacity from January to November. That’s a lot of solar power!
In other news, the polysilicon imports in November amounted to 2,772.69 mt, up 16.80% month-over-month. However, the cumulative imports for 2024 are down 38.80% year-over-year. Likewise, the domestic PV module export value in November was 11.204 billion yuan, down 20.10% month-over-month, contributing to a total import and export value decrease of 28.50% year-over-year in 2024.
Exciting developments are also happening in Oman, with JA Solar Technology announcing a project to build a factory with an annual production capacity of 6GW high-efficiency solar cells and 3GW high-power solar modules. The total investment for this project is a whopping 3.957 billion yuan, showing a significant commitment to expanding their presence in the region.
It’s clear that the PV industry is keeping us on our toes with all these new projects and initiatives. Stay tuned for more updates on these developments as they unfold!
