Solar cell prices hit record lows this week, with Mono Perc M10 and G12 cells assessed at $0.0603 per watt and $0.0645 per watt, respectively, and FOB China at $0.0056 per watt and $0.0058 per watt, according to OPIS data. The M10 TOPCon battery price also fell weekly by $0.0031/W to $0.0690/W last week.

This is the fourth consecutive week of declining battery prices, according to OPIS data. Battery makers have been engaged in a price war due to a severe lack of downstream demand; one battery maker said they have to compete to cut prices to stimulate demand and increase sales.

In contrast, solar cable's prices for PV modules are much more stable, as they buy raw materials to produce and sell based on daily real-time copper prices. If there are low-priced solar cables on the market, it is important to consider whether the following phenomena exist

1. Using inferior recycled copper materials to substitute the best for the worst.

2. Loss of cable square footage.

This can lead to fire problems, posing a hazard to the project and the safety of people and property.

Meanwhile, according to OPIS market research, the market mainstream product Mono Perc M10 battery is currently estimated at about RMB0.489 (US$0.067)/W ExW in China's domestic market this week, which is about 27% lower than the price of about CNY0.67/W at the beginning of the third quarter.

Insiders in the polysilicon industry said that based on current upstream material prices, the cash cost for primary cell makers to produce Mono Perc M10 cells is about CNY0.48/W. Meanwhile, a secondary cell supplier said they are losing money by selling Mono Perc M10 cells at CNY0.50/W, suggesting that their production costs are higher.

In addition, OPIS has learnt from its market research that cell producers are focusing on cutting inventories by reducing their start-up rates. According to seller sources, the average market cell start-up rate is currently between 70 and 80 per cent.

When asked what plan will be taken next to cope with the current sales downturn, another cell maker responded that there is no effective solution at present, and it is expected that the start-up rate of silicon wafer and cell makers will continue to drop in November.