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SunSirs: The Price of Wood Pulp Continued to Decline in July in China, or Short Term Stalemate Consolidation

July 30 2021 14:27:03     SunSirs (Selena)

According to the data monitoring of SunSirs: in July 2021, the prices of softwood pulp and hardwood pulp were still in a downward trend. Although softwood pulp showed an upward trend in the middle of the month, it fell back again at the end of the month. On July 29, the average market price of softwood pulp in Shandong was 6,282.5 RMB/ ton, down 17.8 RMB/ ton or 0.28% 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 July 1 was 6,300 RMB/ ton). On July 29, the average market price of broad-leaved wood pulp in Shandong was 4,762.5 RMB/ ton, down 162.5 RMB/ ton or 3.3% 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 July 1 was 4,925 RMB/ ton).

According to the observation of market changes, the prices of softwood pulp and hardwood pulp rose and fell in early July, and the market showed an obvious recovery, which supported the pulp price. However, in late July, with the sharp decline of pulp futures, the spot prices of softwood pulp and broad-leaved wood pulp also decreased. The overall supply of imported softwood pulp and broad-leaved wood pulp in South China was tight and the trading volume was small. Near the end of the month, the pulp market demand is still weak. Due to the impact of local rain, the downstream purchase intention is not strong.

In terms of futures, on July 29, the opening price of the main contract of pulp futures SP2109 of the previous stock exchange was 6,170 RMB/ ton, and settlement price of the previous day was 6,148 RMB/ ton, with 224,426 transactions and 124,826 positions. SP2108's recent contract opening price was 6,250 RMB/ ton, the settlement price if the previous day was 6,194 RMB/ ton, 1,220 transactions and 10,490 positions.

SunSirs wood pulp analysts believe that at present, the supply of wood pulp market is relatively tight. Affected by the epidemic and natural disasters, the investigation of ports and airports is strict, and the logistics transportation is slow, which virtually increases the spot cost. In addition, although some base paper enterprises in the downstream intend to increase, the actual demand follow-up is limited. It is expected that the short-term wood pulp market price in China may continue to be in a stalemate and consolidation, mainly price consolidation.

 

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