China Wafer Prices Stay Flat as Buyers Remain Cautious

China’s PV wafer market remained largely unchanged this week, with stable upstream polysilicon prices providing some cost support while weak downstream demand continued to limit transactions.

Wafer Prices Hold Steady

According to the latest market data released by the Silicon Industry Association on September 9, average prices remained unchanged from the previous week:

• N-type G10L: RMB 1.01/wafer
• N-type G12R: RMB 1.03/wafer
• N-type G12: RMB 1.15/wafer

Downstream prices also remained stable, with mainstream solar cell prices at RMB 0.29–0.31/W and module prices at RMB 0.69–0.71/W.

Weak Demand Keeps Trading Limited

Actual wafer transactions were limited this week, with only small volumes traded by some manufacturers. Cell producers are mainly making small, needs-based purchases while continuing to negotiate for lower prices.

Meanwhile, relatively stable polysilicon prices are supporting wafer production costs, giving manufacturers greater incentive to defend current price levels.

Supply-Demand Tension Continues

The market remains caught between producers trying to maintain prices and downstream buyers facing weak demand. Industry operating rates were broadly unchanged, with two leading manufacturers operating at 52% and 54%, while integrated producers reported rates of around 56%–60%.

With both sides adopting a wait-and-see approach, wafer prices are likely to remain under pressure until downstream demand strengthens or supply-side adjustments become more significant.