The Zhitong Finance App learned that Follett Glass (06865) rose more than 7% to lead PV glass stocks. As of press release, Follett Glass rose 7.78% to HK$20.5, Xinyi Solar (00968) rose 3.96% to HK$6.3, and Xinyi Glass (00868) rose 2.17% to HK$8.47.
According to the news, according to SMM, as of April 1, the price of 2.0mm photovoltaic glass was 17.5-18.5 yuan/square meter, and the price of 3.2mm glass was 27.0-27.5 yuan/square meter. The mainstream transaction prices were 18.0 and 27.0 yuan/square meter respectively. The average price increased by 1.85 yuan/square meter and 1.5 yuan/square meter respectively from the previous month.
Huafu Securities predicts that in 2024, new glass production capacity will be limited. Most of them will be put into operation in Q2-Q3, and the climbing will continue until Q4. By the end of the year, the nominal production capacity is about 120,000 tons/d, the actual effective daily melting volume is about 110,000 tons/d, and there is a possibility of cold repair for multiple production lines; in terms of demand, PV installations from January to February 2024 ushered in a good start. With the industry entering the peak season, the module orders are good, and the first and second tier companies are concentrating on starting more than 80%. Around 80%, production is expected to continue to rise. According to SMM, production is expected to continue to rise in April It is expected to reach 60 GW. Huafu Securities believes that the supply and demand for photovoltaic glass will continue to be tight, and there will even be a phased gap. Prices are expected to continue to rise and enter a new cycle of price increases.