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SunSirs: China Wood Pulp Prices Ushered, Or Short-term High Shock
December 14 2020 11:12:09SunSirs(Selena)

According to SunSirs data monitoring: Last week, the spot price of softwood pulp and hardwood pulp showed a sharp upward trend, and the price rise range was about 200 RMB/ ton. On December 11, the average price of softwood pulp in Shandong was 5,012.5 RMB/ ton, which was 225 RMB/ ton higher than the average price of 4,787.5 RMB/ ton at the beginning of the week (the average market price of softwood pulp on December 6 was 4,787.5 RMB/ ton), an increase of 4.7%. However, the average price of hardwood pulp in Shandong on December 11 was 3,887.5 RMB/ ton, which was increased by 262.5 RMB/ ton, or 7.24%, compared with the average price of 3,625 RMB/ ton on December 6.

From the observation of market changes, the spot price of wood pulp has been at a high level after half a month of shock. With the continuous high level of pulp futures price, the spot price of wood pulp also follows. At present, under the state of global economic recovery, the macro mood of the market is relatively warm, and the price increase letters of downstream paper enterprises are continuously issued, which also plays a certain role in promoting the rise of wood pulp prices.

In the near future, the rising price of pulp and the expectation of RMB appreciation have led to the continuous rise of wood pulp price. In addition, with the increasing demand for plastic ban, waste restriction and household paper, the wood pulp market is still favorable. However, with the improvement of the epidemic situation, the import volume gradually increased, and the inventory situation was always at a high level, which suppressed the formation of pulp price. The reference quotation range of softwood pulp: Yinxing 5,000-5,050 RMB/ ton, hardwood pulp price range is 3,850-4,000 RMB/ ton.

In terms of futures, on December 11, the opening price of SP2103 main contract of Shanghai Futures Exchange was 5,206 RMB/ ton, and yesterday's settlement price was 5,196 RMB/ ton, with 146,258 transactions and 146,958 positions. The opening price of SP2101 contract was 5,138 RMB/ ton, and settlement price of the previous day was 5,118 RMB/ ton, with 18,468 transactions and 28,421 positions.

SunSIrs Wood pulp analysts believe that, with the gradual recovery of the market economy, the prosperity of the paper industry has improved, which makes the market demand may be improved. If the downstream paper mills expand production, pulp price may be expected to rise further, and China wood pulp spot price is expected to fluctuate in a high range in the short term.

 

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