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SunSirs: High Wood Pulp Price in September, or Short-term Shock

October 10 2020 07:48:07     SunSirs (Selena)

According to SunSirs: the overall price of wood pulp in September was relatively high. At the beginning of the month, the spot price of wood pulp rose sharply. On September 28, the average price of softwood pulp in Shandong was 4,662.5 RMB/ ton, which was increased by 187.5 RMB/ ton or 4.19% compared with the average price of 4,475 RMB/ ton on September 1. On September 28, the average price of hardwood pulp in Shandong was 3,675 RMB/ ton, which was increased by 50 RMB/ ton or 1.38% compared with the average price of 3,625 RMB/ ton on September 1.

According to the observation of market changes, the spot price of wood pulp has shown a surge since the beginning of September, which is mainly driven by the high rise of pulp futures. In the afternoon of August 31, the price of pulp futures was once closed to the limit, and then trading and positions created a new high since the pulp listing. In addition, since September, a number of foreign wood pulp companies have raised their prices, and domestic and overseas demand has recovered, and the market has begun to improve.

Near the middle of September, the futures prices gradually returned to the range, which led to the spot prices also adjusted downward. Although the external quotation of imported wood pulp rose, the market delivery rhythm and price acceptance were still digesting. After the substantial price increase, there was a callback to stabilize the market shipment. Until the end of the month, the spot price of wood pulp has been in a state of shock downward, and the gradual stabilization of price is also a reasonable callback for the price rise in the early stage, but the overall price is still in a higher range. At present, the reference quotation range of softwood pulp is: Yinxing 4,650-4,700 RMB/ ton, and the price range of hardwood pulp is 3,650-3,700 RMB/ ton.

In terms of futures, on September 28, the opening price of SP2012 main contract of Shanghai Futures Exchange was 4,700 RMB/ ton, and yesterday's settlement price was 4,682 RMB/ ton, with 96,137 transactions and 1,433,333 positions. The opening price of SP2010 recent contract was 4,646 RMB/ ton, and yesterday's settlement price was 4586 RMB/ ton, with 40 transactions and 271 positions.

SunSirs Wood pulp analysts believe that the current pulp futures market is mainly empty finishing, but the price raising letter of domestic downstream finished paper market continues, and the quotation price of external pulp mills continues to rise. It is expected that after the National Day holidays, the driving force of price rising may still exist, and the short-term spot price of China wood pulp will still be in a high range.

 

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