According to the monitoring of the commodity market analysis system of SunSirs, both softwood pulp and hardwood pulp showed a downward trend last week. On June 13th, the average market price of softwood pulp in Shandong Province was 6,183.33 RMB/ton, a decrease of 0.54% compared to the average price on June 8th. On June 13th, the average market price of hardwood pulp in Shandong Province was 4,123.33 RMB/ton, a decrease of 0.24% compared to the average price on June 8th.

Supply side: Recently, the wood pulp import market has been concerned about the impact of strikes and shutdowns in Finnish factories, leading to expectations of reduced supply and short-term incremental transactions in the market. According to data released by the General Administration of Customs, the import volume of pulp in China in May 2025 was 3.016 million tons, an increase of 4.3% month on month and 6.9% year-on-year. The cumulative import volume for the year was 15.547 million tons, an increase of 2.1% year-on-year.

On the demand side: Currently, it is the off-season of the downstream raw paper market industry, and the performance of the papermaking terminal market is poor. The price of raw paper is difficult to see an increase, which has led to a lack of enthusiasm among paper mills for purchasing wood pulp. In addition, the gradually decreasing operating load of some paper mills has slowed down the consumption data of pulp, which has limited support for pulp prices.

Domestic port data: Last week's inventory showed a slight accumulation trend. As of June 12, 2025, the sample inventory of mainstream pulp ports in China was 2.185 million tons, an increase of 1.3% compared to the previous period's accumulated inventory of 28,000 tons. This cycle, the inventory of pulp in the mainstream domestic port of Qingdao Port shows a trend of accumulation, with a daily average shipping speed of 15,000 tons/day, and a high proportion of hardwood pulp sources in the main port; The inventory at Changshu Port shows a trend of accumulation, with shipments exceeding 70,000 tons within the week; The inventory levels of other ports fluctuate within the normal range, and the overall inventory levels do not change significantly.

Last week, pulp futures prices first rose and then fell. As of June 13th, the opening price of the main contract sp2509 pulp futures on the Shanghai Futures Exchange was 5,230 RMB/ton, the closing price was 5,198 RMB/ton, and the highest price was 5,232 RMB/ton, with a daily decline of 0.76%. The trading volume was 87,100 lots, and the position was 96,266 lots.

SunSirs wood pulp analysts believe that the current wood pulp market is in an awkward situation where it cannot rise or fall, and the market supply and demand are still in a game state. It is expected that the short-term wood pulp prices will be weak and fluctuate.

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