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SunSirs: China Wastepaper and Corrugated Paper Continue to Fall, with Short-term Low Volatility
March 25 2024 14:25:05SunSirs(Selena)

According to the monitoring of the commodity market analysis system of SunSirs, the price of wastepaper in Zhejiang Province was still in a downward trend last week. On March 22, 2024, the average purchase price of A-grade waste yellow cardboard in Zhejiang Province was 1,456 RMB/ton, a decrease of 0.95% compared to the average price of 1,470 RMB/ton on March 17. The price of corrugated paper has fluctuated and fallen. On March 22, the average ex factory price of 140g corrugated base paper was 2,722 RMB/ton, a decrease of 0.73% compared to the average price of 2,742 RMB/ton on March 17.

By observing market changes, it can be seen that the prices of wastepaper in Zhejiang region continued to decline last week, and domestic wastepaper prices saw a comprehensive decline. With the leading paper mills leading the decline, most paper mills in many regions have followed suit and continued to suppress the price of wastepaper. Market panic has intensified, which has led to a stronger willingness to ship from packaging stations once again. However, the inventory of wastepaper in the paper mill is at a high level, and the amount of wastepaper arriving is constantly increasing, leading to the paper mill continuously lowering the price of wastepaper to reduce the amount of wastepaper arriving.

The price of corrugated base paper has shown a weak downward trend, and with the continuous decline of wastepaper prices, the cost of corrugated paper continues to decrease, leading to a linkage in price reduction. Currently, the production of corrugated paper in China is operating normally, but due to the zero tariff policy, the import volume is also increasing. Moreover, the low price of imported corrugated paper provides some room for arbitrage, which stimulates the willingness of domestic traders to import corrugated paper and increases the supply pressure on domestic corrugated paper. March is still in a relatively low season of demand, and with insufficient market demand expectations and limited follow-up on terminal orders, downstream enthusiasm for purchasing goods and replenishing inventory is weak, resulting in weak demand.

According to paper analysts from SunSirs, the prices of domestic wastepaper and corrugated paper are currently linked to a downward trend. With increasing supply pressure and limited demand follow-up, the market supply and demand game continues, and it is expected that the prices of wastepaper and corrugated paper will temporarily fluctuate at a low level in the short term.


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