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SunSirs: China Wood Pulp Price Rises again, and It May Stabilize in the Short Term
November 23 2020 10:26:30SunSirs(Selena)

According to the data monitoring of SunSirs: this week, the spot price of softwood pulp showed an upward trend again, with price increases of about 50 RMB/ ton, while the price of hardwood pulp remained stable for the time being. On November 19, the average price of softwood pulp in Shandong was 4,712.5 RMB/ ton, which was increased 67.5 RMB/ ton or 1.45% compared with the average price of 4,645 RMB/ ton on November 16. On November 19, the average price of hardwood pulp in Shandong was 3,550 RMB/ ton, which remained stable compared with the average price of 3550 RMB/ ton on November 16.

According to the observation of market changes, the spot price of softwood pulp decreased a little in early November, but then the price began to rise from decline to rise, showing an upward trend for two consecutive weeks.

Then the pulp futures prices began to decline, futures return to 4,800 RMB/ ton, the difference between futures and spot prices is about 50-70 RMB/ ton. At present, the price of softwood pulp is still strong. Recently, the continuous issuance of the price increase letter of the downstream white cardboard also has a positive effect on the wood pulp price. In recent years, the price of hardwood pulp has been in stable operation, the market supply is stable, the paper mill procurement is mainly rigid demand, and the transaction is slow. The reference quotation range of softwood pulp: Yinxing 4,700-4,750 RMB/ ton, hardwood pulp price range is 3,550 RMB/ ton.

In terms of futures, on November 19, the opening price of SP2101 main contract of Shanghai Futures Exchange was 4,810 RMB/ ton, and yesterday's settlement price was 4,870 RMB/ ton, with 111,981 transactions and 125,021 positions. The opening price of SP2012 contract was 4,634 RMB/ ton, and yesterday's settlement price was 4,716 RMB/ ton, with 7,847 transactions and 12,645 positions.

SunSirs wood pulp analysts believe that the pulp futures price has fluctuated greatly recently, and the spot futures price linkage is obvious. With the fall of the futures price, the short-term sharp rise is not strong, which also has an impact on the wood pulp spot price rise. It is expected that China wood pulp spot price may return in the short term.

 

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