olar cell prices hit a fresh historical low this week according to OPIS data, with the price of Mono Perc M10 and G12 cells assessed at $0.0603 per W and $0.0645/W FOB China, respectively, down by $0.0056/W and $0.0058/W from the previous week. The price of M10 TOPCon cells likewise decreased by $0.0031/W week to week to $0.0690/W.

The prices of cells have decreased for the fourth week in a row, according to OPIS data. Due to the acute lack of downstream demand, cell makers have been engaged in a price war; they have to compete to cut prices in order to encourage demand and increase sales volume, according to a cell manufacturer.

The Mono Perc M10 cell, the market's mainstream product, is currently assessed at roughly CNY0.489 ($0.067)/W ExW this week in the Chinese domestic market, according to the OPIS market survey. This is approximately 27% less than the price of roughly CNY0.67/W at the start of the third quarter.

An insider in the polysilicon industry claims that the cash cost for the Tier-1 cell manufacturers to produce Mono Perc M10 cells is approximately CNY0.48/W based on the current upstream materials’ prices. Concurrently, a Tier-2 cell supplier said that they are losing money on sales of Mono Perc M10 cells at a price of CNY0.5/W, suggesting that their production costs are higher.

Additionally, cell producers are concentrating on cutting inventory by lowering operating rates, OPIS learned from its market survey. The market's average operating rate for cells is currently between 70% and 80%, according to a seller source.

When asked what plan they would further take to deal with the present slow sales, another cell manufacturer responded that there aren't any effective approaches at the moment and that it's anticipated that wafer and cell makers’ operating rates would continue to drop in November.

（Picture: Veer）