China’s mainstream TOPCon module export prices held steady for a second week, despite efforts by major polysilicon producers to set minimum price floors on module and polysilicon products.

According to the OPIS Global Solar Markets Report released on Oct. 20, the Chinese Module Marker (CMM), the OPIS benchmark assessment for TOPCon modules below 645 W from China, was unchanged at $0.107/W Free-On-Board (FOB) China.

Forward prices were also stable, with Q1 2027 loading assessed at $0.106/W and Q2 through Q4 2027 at $0.105/W.

Under the pricing framework discussed by China’s eight major polysilicon manufacturers at an Oct. 11 meeting in Hangzhou, minimum selling prices of CNY 0.79 ($0.118) /W for TOPCon modules and CNY 0.86/W for back-contact modules were proposed, equivalent to $0.118/W and $0.129/W FOB, alongside a minimum polysilicon selling price of CNY 43/kg, inclusive of tax.

Market participants, however, remained skeptical that the proposed measures would provide price support amid persistent oversupply and weak downstream demand.

Several trade sources questioned whether the pricing discipline could be sustained, as industry self-discipline agreements do not constitute legally enforceable price controls and their effectiveness depends on manufacturers’ willingness to comply.

A source at a Chinese top-tier integrated manufacturer similarly described the proposed fixed module pricing mechanism as difficult to implement, suggesting that efforts by these major polysilicon producers to dictate downstream module prices could be “one-sided wishful thinking”.

In Oct. 68/W in an attempt to address below-cost bidding in large-scale procurement tenders. However, industry sources noted that the price guideline was non-binding, allowing manufacturers to continue submitting bids below the suggested floor.

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