The end of the Chinese Lunar New Year was the last hope for any significant uptick in module prices – but instead they’ve remained flat, sometimes ticking up a little, sometimes down. Module prices are still just above the marginal cost of production for the most efficient enterprises, but capacity utilization rates are down to say 50% for the big players and 20% for smaller ones. Smaller companies with less reputation to risk have been submitting bids of $100 per kW to tenders, rather than the realistic $120 per kW, then privately negotiating the price back up above their own cost of production afterwards, banking on the customer not feeling that the disruption of a cancelled contract would be worth…