According to Antaike, wafer prices continued their downward trend this week. Specifically, the average transaction price for N-type G10L single crystal wafers (182*183.75mm/130μm) was 0.80 yuan per piece, a 3.61% decline from the previous week. The average transaction price for N-type G12R single crystal wafers (182*210mm/130μm) settled at 0.90 yuan per piece, down 3.23% week-over-week. Meanwhile, N-type G12 single crystal wafers (210*210mm/130μm) recorded an average transaction price of 1.10 yuan per piece, a 1.79% decrease from the prior week.

Industry surveys indicate that downstream battery cell and module prices continued to fall this week compared to last week. Battery cell mainstream prices are now between 0.25-0.26 yuan per watt, down 1.92% week-over-week, while module mainstream prices are in the 0.67-0.68 yuan per watt range, a 1.46% weekly decline. The ongoing drop in wafer prices is primarily due to weaker-than-expected end-user demand recovery, which has constrained demand transmission along the entire supply chain. The supply-demand mismatch remains unresolved, and industry inventory levels continue to rise.

Specifically, although factory utilization rates fell in July, overall supply remains relatively ample. Additionally, market sentiment is pessimistic, with strong expectations for further wafer price declines. Downstream buyers are primarily focusing on restocking for immediate needs and fulfilling existing orders, which has led to weak inventory reduction across the sector. Meanwhile, second- and third-tier manufacturers are selling off inventory at low prices to raise cash, dragging down overall market prices. This has kept wafer prices under pressure this week.

Survey data shows that overall industry operating rates edged down slightly compared to last week. The two leading manufacturers saw their utilization rates drop 2% to 52% and 54%, respectively. Integrated companies experienced a 2% decline, bringing their rates to between 56% and 60%, while other manufacturers recorded a 4% decrease, with rates now ranging from 50% to 78%.

Looking ahead, although wafer prices have fallen below production costs for many companies, leaving limited room for further declines, the market still faces a supply-demand imbalance and a generally subdued environment. If there is no significant reduction in wafer supply, the market is expected to maintain a weak trend in the near term.