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According to Tranalysis, China’s solar cells export are still winning on volume, but losing on price, caused by the overcapacity of solar cells in China. India and South Korea are remaining the biggest importing country, taking advantage of the low price.
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The largest manufacturer of solar panels globally, China, is continuing facing a decreased export price of its solar cells in H1, 2016. According to Tranalysis, the average export price of solar cells has been USD16.03/cell in H1, which represents a fall of 14.97% compared to the first half-year in 2015.
Supported by the decreasing price, the export volume went up to almost 378 million tonnes in H1, 2016, showing an increase of 19% compared to the same period of last year. The huge volume increase was higher than the price decrease, which still led to an overall increased export value of solar cells at an amount of USD6.06 billion, a slight up of 1.5% year on year.
The two main importing nations of China’s solar cells have been India and South Korea. India alone was responsible for almost one quarter of all exports from China, importing about 908 million solar cells in H1, 2016. South Korea is following closely with an importing amount of about 729 million solar cells. Together, this both countries were accounting for 43.31% of China’s exports of solar cells in the first half of 2016. However, despite the huge share of export volume, the total export value has only reached 21.47%. That is not even half the share of volume. The amount was about USD1.3 billion.
According to Tranalysis, other importing nations have been Japan with a share of 8.13%, Germany with a share of 7.41%, the Philippines accounting for 4.68%, and also Malaysia with a share of 4.33%.
What’s more, India’s solar industry is at an incredible speed at the moment. The main reasons for the boom are a decline in tariff rates, the increasing level of their technology and the concentration on China’s oversupply of solar cell, solar panels, and supporting materials. In fact, from April to September 2016 India imported more than 87% of their total photovoltaic cells from China, according to The Economic Times. This import was worth about USD826 million. In 2014-2015, the import share of solar cells from China was 73.49%.
The global price of solar panels has been constantly going down from January to November 2016. The main cause of this trends are the low export prices of Chinese solar panels, which are driven by the overcapacity. This has led to protection actions of some economy zones like the European Union, which have import duties and a minimum price for solar cells from China. According to Reuters, the EU Commission is likely to keep these barriers up for another two years, protecting their domestic companies of price dumping from China.
Furthermore, China is going to complete the subsidy standard for the photovoltaic power generation. This will finally result in a subsidy reduction process until the subsidies will be stopped completely, according to Tranalysis.
About Tranalysis:
Tranalysis is an intelligence and analysis provider on import/export data covering agriculture, chemicals, and life science industries in China. Tranalysis, founded in 2001, provides users not only a large amount of import/export data in China but also analysis to help monitor the market trends. Our clients include Monsanto, BASF, Syngenta, and SinoChem.
For more information about Tranalysis, please visit our website or get in touch with us directly by emailing econtact@tranalysis.com or calling +86-20-37616606.
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