China Wafer Prices Hold Steady Amid Weak Downstream Demand

China’s wafer market remained stable this week, as cost support from polysilicon helped manufacturers defend prices while weak downstream demand limited new orders.

Wafer Prices Remain Unchanged

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

• N-type G10L (182×183.75mm): RMB 1.01/wafer
• N-type G12R (182×210mm): RMB 1.03/wafer
• N-type G12 (210×210mm): RMB 1.15/wafer

Downstream prices also showed little movement, with mainstream cell prices at RMB 0.29–0.31/W and module prices at RMB 0.69–0.71/W.

Buyers Remain Cautious

Wafer trading activity was limited this week, with only a small number of transactions reported. Cell manufacturers are mainly making small, needs-based purchases while continuing to push for lower prices.

At the same time, relatively stable polysilicon prices are providing some cost support, encouraging wafer manufacturers to resist further price cuts.

Supply-Demand Tension Persists

The market remains caught between weak demand and producers’ efforts to maintain prices. Overall industry operating rates were broadly unchanged, with major manufacturers operating at around 52%–54%, while integrated producers were running at approximately 56%–60%.

With both buyers and sellers taking a wait-and-see approach, the wafer market is expected to remain under pressure until downstream demand improves or supply-side adjustments become more significant.