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SunSirs: China Wood Pulp continues to Decline after the National Day Holidays, which may fluctuate Downward in the Short Term
October 15 2021 14:25:33SunSirs(Selena)

According to the data monitoring of SunSirs, the spot price of coniferous wood pulp decreased this week, while the price of broad-leaved wood pulp remained stable. On October 14, the average market price of coniferous wood pulp in Shandong was 5,970 RMB/ ton, which decreased by 160 RMB/ ton compared with the average market price of coniferous wood pulp in Shandong at the beginning of Zhou (the average market price of coniferous wood pulp on October 10 was 6,130 RMB/ ton), a decrease of 2.61%. On October 14, the average market price of broad-leaved wood pulp in Shandong was 4,600 RMB/ ton, which remained stable compared with the average market price of broad-leaved wood pulp in Shandong at the beginning of the week (the average market price of broad-leaved wood pulp on October 10 was 4,600 RMB/ ton).

According to the observation of market changes, during the National Day holiday, the pulp is basically in a holiday and out of the market state, and there is no significant change in the domestic wood pulp spot market price. With the end of the holiday, the market trading has not improved significantly at first, mostly in shock consolidation, and the demand is still weak. In addition, with the impact of domestic film restrictions, the operating rate of downstream paper mills has decreased and the demand for raw materials has also decreased, which has suppressed the pulp price.

Since the beginning of the week, the pulp futures price has been falling continuously. Until October 14, the SP2111 contract price has fallen below 5,500 RMB/ ton. At present, the market is limited and the production capacity is controlled, but the spot market of wood pulp is relatively sufficient, which has little impact on the boost of pulp price. At present, the demand of downstream paper enterprises is still relatively cold, the domestic import is greatly reduced, the market stock is lower than expected, and the downturn on the demand side is the key to the decline of pulp price.

In terms of futures, on October 14, the opening price of pulp futures SP2111 contract of the previous stock exchange was 5,568 RMB/ ton, and the settlement of the previous day was 5,564 RMB/ ton, with 275,555 transactions and 106,441 positions. The opening price of SP2112 contract was 5,390 RMB/ ton, and the settlement of the previous day was 5,460 RMB/ ton, with 79,003 transactions and 95,382 positions..

SunSirs wood pulp analysts believe that at present, the pulp disk continues to weaken, the market mentality is affected by bad, the downstream order inquiry is negative, the transaction focus drops, and the market lacks favorable factor support. It is expected that the short-term pulp futures price may continue the callback trend, and the spot price of wood pulp mostly follows the shock downward.

 

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