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SunSirs: The Price of Wood Pulp Fell in January and Temporarily Maintained Stability in the Short Term
January 31 2023 14:08:47()

According to data monitoring from SunSirs: In January 2023, the prices of softwood pulp and hardwood pulp both showed a downward trend. As of January 30, the average market price of softwood pulp in Shandong was 7,320 RMB/ton, a decrease of 0.27% compared with the average price of 7,340 RMB/ton on January 1. On January 30, the average market price of hardwood pulp in Shandong was 6,280 RMB/ton, a decrease of 2.58% compared with the average price of 6,446 RMB/ton on January 1.

According to the observation of market changes, the wood pulp market price continued to fluctuate in January. At first, the spot price of softwood pulp showed an upward trend driven by the strengthening of the contract in recent months, and maintained a high price. However, in January, the quotations of wood pulp were all lowered, the import volume increased month-on-month, and the price of hardwood pulp kept falling. Subsequently, the market risk preference was not good, the international oil price continued to fall, and the chemical products were all green, which suppressed the pulp price to a certain extent, and the price of softwood pulp stopped rising and fell. However, due to the low warehouse receipts and port inventory, the tight supply situation continues, which still supports the price of wood pulp.

On the demand side, the demand of downstream base paper manufacturers continued to be weak in January. Some base paper companies were affected by the public health incident, and their enthusiasm for production was average. The procurement basically maintained rigid demand, and the support for the pulp market was limited. With the arrival of the Spring Festival holiday, downstream paper mills have entered the holiday state one after another. The market demand continues to be weak, the trading volume is gradually reduced, and the domestic logistics and transportation have been suspended one after another. The market is mostly wait-and-see and purchases on demand.

In terms of futures, the opening price of the Shanghai Futures Exchange pulp futures sp2305 contract on January 30 was 6,802 RMB/ton, and the latest price was 6,786 RMB/ton, a price increase of 1.16%.

Wood pulp analysts from SunSirs believe that with the end of the Spring Festival holiday, the market has gradually entered a state of resumption of production and work, but the market trading sentiment is mostly wait-and-see for the time being. In addition, there are reports of pulp mills starting production from overseas one after another, and there may be expectations for an increase in future supply. It is expected that the spot price of wood pulp will remain stable for the time being in the short term.

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