According to the monitoring of the Commodity Market Analysis System of SunSirs, the price of corrugated paper has finally stopped falling and rebounded this week. On May 23, 2025, the average ex factory price of 140g corrugated paper was 2,638 RMB/ton, an increase of 0.53% compared to the average price on May 18.

In terms of upstream raw materials, the price of wastepaper in Zhejiang region showed an upward trend this week, and the prices of wastepaper in domestic paper mills all showed an upward trend. On May 23, 2025, the average purchase price of A-grade waste yellow board paper in Zhejiang region was 1,494 RMB/ton, an increase of 1.22% compared to the average price on May 18. Due to the recent increase in corrugated paper prices, paper mills have been actively shipping and inventory levels have declined, resulting in an increase in operating rates and a rise in demand for wastepaper. In addition, driven by the rise in wastepaper prices from leading paper companies, many paper mills in China have raised their prices from south to north.

On the supply side: Recently, with the increase in purchasing volume from packaging factories, the inventory of paper mills has declined, which has driven production more actively. With the easing of tariff issues, there is an expectation of improved demand in the corrugated paper market, which provides favorable support for market prices and helps to stop the decline of raw paper.

On the demand side: The Sino US Geneva economic and trade talks have achieved important results, with a significant reduction in bilateral tariff levels between China and the United States, which is favorable for the improvement of domestic demand for corrugated paper and the enhancement of market expectations, providing a certain boost to the domestic export market. Based on the current market situation, the order situation of downstream packaging factories is slightly better than before. The increase in orders has prompted packaging factories to replenish their raw paper inventory appropriately, thereby promoting the increase in market trading activity.

SunSirs paper analysts believe that after the reduction of tariffs between China and the United States, the paper market may usher in a new round of concentrated export period. With the recovery of commodity exports, domestic demand for packaging paper will also experience a temporary improvement. Therefore, the demand for corrugated paper has increased, and it is expected that the price of corrugated paper will remain strong in the short term.

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