According to the monitoring of the Commodity Market Analysis System of SunSirs, the price of corrugated paper has remained stable with slight fluctuations this week, with a slight increase in price. On December 11, 2025, the average ex factory price of 140g corrugated paper was 3,240 RMB/ton, an increase of 0.31% compared to the average price on December 7.

In terms of upstream raw materials, the decline in paper prices in Zhejiang region has widened this week, and paper prices in other regions of China have also slightly decreased. On December 11, 2025, the average purchase price of A-grade waste yellow cardboard in Zhejiang Province was 1968 RMB/ton, a decrease of 1.5% compared to the average price on December 7. Against the backdrop of a slowdown in finished paper sales this week, some paper mills have proactively lowered their purchase prices for waste paper to avoid the risks posed by high priced raw materials. In addition, with the active shipment of packaging stations and the slowdown in the shipment of raw paper from paper mills, the atmosphere of paper mills towards waste paper may continue to rise.

On the supply side: Recently, the inventory of corrugated paper factories has continued to increase, and the growth rate has expanded. However, the pressure capacity of small and medium-sized enterprise warehouses is weak, and inventory pressure is high, making price adjustments more flexible. However, large-scale paper mills still have plans to raise prices in the short term, and price increase letters continue to be issued, which temporarily supports the current price. The price of corrugated paper is stable and on the rise.

On the demand side: Currently, downstream packaging companies have limited orders, and some paper mills mainly consume raw paper inventory. The market trading atmosphere is weak, and paper mill shipments have slowed down. Overall inventory will continue to increase. Although the prices of large-scale paper mills are relatively firm, the preferential actions of small mills have a significant impact on market sentiment, increasing the difficulty of later upward trends.

The paper analyst of SunSirs believes that the inventory of paper mills on the supply side is increasing, but the demand of downstream packaging mills is weak. Large scale paper mills continue to implement the upward policy, while small mills flexibly adjust prices to loosen. The market is in a game state in many aspects. The price of raw material waste paper has slightly decreased, and the cost support has weakened. It is expected that there may be a risk of short-term decline in corrugated paper prices.

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