According to the monitoring of the Commodity Market Analysis System of SunSirs, the price of corrugated paper has remained stable this week. On July 24, 2025, the average ex factory price of 140g corrugated paper was 2,572 RMB/ton, which remained stable compared to the average price on July 20.

In terms of upstream raw materials: Recently, the price of waste paper in Zhejiang region has maintained an upward trend, and the price of waste paper in domestic paper mills has mostly increased. On July 24, 2025, the average purchase price of A-grade waste yellow board paper in Zhejiang region was 1,522 RMB/ton, an increase of 0.66% compared to the average price on July 20. This week, the price of waste paper continued to rise, with continuous rainy weather in many parts of China. The inventory of waste paper at packaging stations was relatively low, which resulted in a weak performance in the shipment volume of paper mills. In addition, the continuous release of market price increase letters for raw paper has provided support for the price of waste paper, leading to an upward trend in waste paper prices.

On the supply side: Currently, production enterprises have stable equipment operation, and the supply of corrugated paper is relatively sufficient, leading to an increase in inventory pressure for paper companies. This week, several large-scale paper enterprises in multiple bases continued to release notices to raise the prices of low-end varieties of corrugated paper and box board paper by 30 RMB/ton on July 30th and August 1st. Paper enterprises have a strong willingness to raise prices. In addition, the continuous increase in the price of waste paper may stimulate the corrugated paper market to some extent.

On the demand side: Currently, downstream consumption is not strong, and downstream packaging companies have insufficient orders, resulting in poor enthusiasm for purchasing raw paper. Affected by factors such as the pressure of raw material costs and the meager profits of paper companies, although the prices of corrugated paper have been raised in some regions, medium and large paper companies are still implementing quantity binding preferential policies in some areas under inventory pressure. Due to the decrease in downstream export orders, there may be no significant improvement in the short-term demand side.

The paper analyst from SunSirs believes that the current market pattern of oversupply in the corrugated paper market is still ongoing. Although raw material costs are under pressure, it is still difficult for paper prices to rise due to the lack of significant positive support from downstream consumption. It is expected that corrugated paper prices will remain stable with narrow fluctuations in the short term.

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