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SunSirs: Wood Pulp Prices Continue to Soar, or Short-term in an Upward Trend
January 11 2021 11:01:37SunSirs(Selena)

According to the data monitoring of SunSirs, after the New Year holiday, the spot price of wood pulp showed a sharp rise, the price of softwood pulp increased about 400 RMB/ ton, and the price of hardwood pulp increased about 200 RMB/ ton. On January 8, the average market price of softwood pulp in Shandong was 5,837.5 RMB/ ton, which was 425 RMB/ ton higher than that at the beginning of the month (5,412.5 RMB/ ton on January 1), an increase of 7.85%. On January 8, the average market price of hardwood pulp in Shandong was 4,450 RMB/ ton, which was 187.5 RMB/ ton higher than that in Shandong at the beginning of January (4,262.5 RMB/ ton on January 1), up 4.4%.

Through the observation of market changes, the price of wood pulp spot market continued to rise at the end of 2020. In addition, the price of pulp futures has been rising rapidly in recent years, reaching a new high since the listing, which also drives the spot price of wood pulp to follow the upward trend. In the early stage, with the continuous rise of the external quotation of pulp, the price increase letters of downstream white cardboard, cultural paper and household paper were frequently issued, which played an obvious supporting role in the price of wood pulp.

At present, the continuous appreciation of RMB, combined with the sharp rise of domestic pulp futures prices, may increase the willingness of foreign pulp mills to raise prices. In addition, with the recent repeated outbreaks in some parts of the country, domestic freight also suffered a certain impact. These factors make the price of wood pulp in a more favorable background, thus pushing up the price of wood pulp. The reference quotation of softwood pulp is about 5,850 RMB/ ton for Yinxing, and the price of hardwood pulp is about 4,450-4,500 RMB/ ton.

In terms of futures, on January 8, the opening price of the main contract SP2103 of Shanghai Stock Exchange pulp futures was 6,130 RMB/ ton, and settlement price of the previous day was 6,054 RMB/ ton, with 27,422 transactions and 173,243 positions.

SunSirs wood pulp analysts believe that the recent pulp prices are in a rising cycle, short-term market expectations for pulp prices remain too much view. But with the approach of the Spring Festival, there may be an appropriate correction. It is expected that the upward trend of wood pulp spot price will continue slightly in the short term in China.


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