According to the data monitoring of SunSirs, the prices of softwood pulp and hardwood wood pulp showed a mixed state in August 2021. On August 27, the average market price of softwood pulp in Shandong was 6,272.5 yuan/ ton, down 10 yuan/ ton or 0.15% compared with the average market price of softwood pulp in Shandong at the beginning of the month (the average market price of softwood pulp on August 1 was 6,282.5 yuan/ ton). On August 27, the average market price of broad-leaved wood pulp in Shandong was 4,700 yuan/ ton, down 62.5 yuan/ ton or 1.31% compared with the average market price of broad-leaved wood pulp in Shandong at the beginning of the month (the average market price of broad-leaved wood pulp on August 1 was 4,762.5 yuan/ ton).
By observing the market changes, in early August, the main force of pulp futures price fell behind the 6,100 mark, but then the futures price rebounded strongly after bottoming out, and the disk situation SP09 contract day increased by 5.01%. Therefore, it drives the spot price of softwood pulp to adjust with the disk shock. The horizontal consolidation operation of broad-leaved wood pulp market is mainly just to be purchased, and the price is slightly lower. This price rise is the expected increase in pulp demand, which has become the driving force for the rise in pulp price. The price rise letters in the downstream base paper market are frequent. In addition, the paper packaging industry is about to enter the "golden nine silver ten" stage, and the demand is warming to form a certain support for pulp price.
Subsequently, the price of softwood pulp rose steadily, and the upward trend continued until about mid August. During this period, the pulp futures price was mainly shock consolidation, and the external price in August was mostly stable, with strong market wait-and-see mood. The actual market demand is still relatively weak, and there is no sharp upward trend. Near the end of the month, pulp futures prices fluctuated downward, so spot prices also followed the downward trend. Due to the poor terminal demand, the cost support of pulp price becomes weak. At present, the new orders in the downstream are limited and the overall shipment is general. In addition, the Mid Autumn Festival orders are coming to an end, the downstream secondary plant has just returned to the state of replenishment, the market trading is limited, and the actual demand for pulp is weak, which depresses the pulp price.
In terms of futures, at 11 a.m. on August 27, the opening price of the main contract of pulp futures SP2110 of the previous stock exchange was 6,058 yuan/ ton, and the settlement price yesterday was 6,064 yuan/ ton, with 98,831 transactions and 136,529 positions. SP2109's recent contract opening price was 6,254 yuan/ ton, yesterday's settlement price was 6,244 yuan/ ton, with 9,373 transactions and 37,577 positions.
SunSirs wood pulp analysts believe that due to the increase of import arrival in mid and late August, the medium and short-term pulp supply began to ease. In addition, the downstream paper market is weak in trading, the demand side is good, the support is insufficient, and the market replenishment enthusiasm is not high. Most of them focus on cautious procurement. It is expected that the short-term wood pulp market price in China may continue to be weak and volatile.
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