According to the price monitoring of SunSirs, spot wood pulp prices in September were affected by market demand and did not fluctuate significantly. Softwood pulp prices fell first and then rose, while Hardwood pulp prices were the opposite. The average price of Softwood pulp on September 27 was 4,612.50 RMB/ton, up 0.11% compared with the beginning of the month. On September 27, the average price of hardwood pulp was 3,937.50 RMB/ton, which was - 0.67% lower than that at the beginning of the month.

Products: From the observation of market changes, the overall price fluctuation of wood pulp market in early September was not large, and the market was in a small consolidation trend. As the downstream market demand was not fully released, the prices of softwood pulp and hardwood pulp showed a narrow fluctuation trend. With the end of the Mid-Autumn Festival in late September, the downstream papermaking industry showed a trend of overall price increase, including corrugated paper, box board paper, white cardboard, copperplate paper and other kinds of paper. However, the spot price of wood pulp did not rise significantly, the price of softwood pulp rose slightly, while the price of hardwood pulp declined slightly.

Industry chain: In September, due to the collective price increase of downstream paper products, the wood pulp market was in the peak demand season, and the market demand had gradually improved. However, the stock pressure of paper products in the early stage was relatively high, which made the follow-up of demand not achieve the expected effect. Therefore, the spot market price had not risen substantially and remained stable as a whole. In addition, domestic port pulp stock was still at a high level, the devaluation of the RMB will reduce domestic imports in the future. In addition, in the peak demand season, the market as a whole tended to perform well, the pulp inventory rhythm may improve.

Industry: Pulp futures prices in September have been in a state of fluctuation, which makes the wood pulp spot market relatively cautious, the overall price is in a steady state, coupled with pulp after a long period of decline in the early stage, spot speculative demand has significantly weakened. With the arrival of the National Holiday, the demand for all kinds of packaging increased, and the overall supply and demand of the paper industry market was basically stable, so the traders still held a wait-and-see attitude towards price increase. In addition, the impact of domestic environmental protection policy, paper factories start-up constraint, it will also have a certain impact on the upstream space.

On the futures side, the main contract of pulp futures on September 27 was withdrawn sharply to a new low in one month. The opening price of the main contract of sp2001 for pulp futures on the previous stock exchange was 4,742 RMB/ton, and the reference settlement price was 4,742 RMB/ton. The day before, the settlement price was 4,622 RMB/ton, with 427,480 hands traded and 266,987 hands held positions.

Market Forecast: According to the analyst of SunSirs, although the price of downstream pulp factories increased collectively in September, the main task of the spot market of wood pulp is to destock the stock, so the spot price of wood pulp did not fluctuate greatly, and the traders mainly focused on shipment. In addition, the demand of the downstream has not increased because of the rising price, so the pulp market trading atmosphere has remained stable, and the price of wood pulp has limited rise and fall. As pulp futures fell sharply at the end of the month, short-term spot prices are expected to remain stable.

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