The high inventory levels pose a challenge to the de-stocking efforts, resulting in difficulties for photovoltaic glass prices to rebound. Currently, PV glass prices have stabilized, and discounts are being offered for bulk purchases. On the supply side, no new PV glass production lines were put into operation last week, maintaining the stability of actual output as no production lines have taken the lead in increasing production. It is expected that one production line will commence operations this week, with another line scheduled to start producing glass in early July. This development provides room for potential output growth. The current total production capacity of domestic photovoltaic glass stands at 94,040 tons per day, with an industry capacity utilization rate of 93.7%. However, due to new supply-side policies, the production speed of domestic photovoltaic glass manufacturers has significantly slowed down. The absence of new production lines in June has contributed to a deceleration in short-term supply growth.

On the demand side, module prices have been declining on a weekly basis, and the trading volume in the PV main material market has been decreasing recently. Reduced prices have led customers to adopt a wait-and-see approach, resulting in lower-than-expected demand increment. Although module manufacturers' production is expected to slightly increase in July compared to June, the demand for photovoltaic glass remains under pressure.

Overall, the current inventory of photovoltaic glass remains at a high level, making short-term inventory reduction challenging. Consequently, photovoltaic glass prices continue to face difficulties in picking up.

The spot prices of PV glass as of June 30 are as follows:

- The mainstream price for domestic PV glass with a 2.0mm coating stands at RMB 18 per square meter, unchanged from the previous week.

- The mainstream price for PV glass with a 3.2mm coating is RMB 25.5 per square meter, also unchanged from the previous week.