China Module Market (CMM) (the OPIS benchmark for monocrystalline PERC modules in China) and TOPCon module prices hit another record low this week, falling by $0.008/watt peak (wp) and $0.002/wp to $0.130 and $0.140/wp respectively. , according to OPIS data. Weak market sentiment and sluggish export demand continue to weigh on the component market.

Module prices fell for a fourth straight week, with CMM falling by 5.8%, the largest percentage drop in more than two months. Most buyers and sellers are pricing monocrystalline PERC modules in the $0.120-130/wp range, while TOPCon modules are priced in the $0.130-140/wp range. One module seller said prices continued to fall. "Right now, we don't know how to predict module prices," he said.

As the market is oversupplied, component manufacturers have reduced production, with one stakeholder estimating that the sector's overall operating rate is down 50-60% from the previous 70-80%. A component seller said that the company's current operating rate is around 60%. "At this stage, maintaining the current operating rate is sufficient," he said. He said that small factories with "inefficient production capacity" and unable to maintain production capacity will gradually withdraw from the market.