SunSirs: Wood Pulp Prices Rose First and Then Fell, with Weaker Fluctuations in the Short Term
October 24 2023 10:45:23     SunSirs (John)Price trend
According to the monitoring of the Commodity Market Analysis System of SunSirs, the prices of softwood pulp and hardwood pulp showed a mixed trend this week. On October 20th, the average market price of softwood pulp in the Shandong region was 6,340 RMB/ton, a decrease of 0.31% compared to the average price of 6,360 RMB/ton on October 15th. On October 20th, the average market price of hardwood pulp in the Shandong region was 5,700 RMB/ton, a decrease of 0.18% compared to the average price of 5,710 RMB/ton on October 15th.
Analysis review
By observing market changes, it can be seen that the spot prices of softwood pulp and hardwood pulp had shown a trend of first rising and then falling this week. In terms of supply, the global supply of wood pulp is currently stable, and with supply not tight, pulp prices had risen to a high range. This week, the inventory of mainstream port samples was 1.932 million tons, an increase of 46,000 tons compared to the previous period, showing a cumulative trend for two consecutive weeks.
In terms of demand, the prices of downstream cultural paper and white cardboard continued to rise at the beginning of the week, which was positive for the wood pulp market mentality and temporarily strengthened the prices. With the cost pressure of raw paper enterprises, some regions experienced a decline in production, and the market's demand for wood pulp began to weaken. As a result, the price had declined.
In terms of futures, on October 20th, the opening price of the Shanghai Stock Exchange pulp futures sp2401 contract was 6,200 RMB/ton, with a maximum price of 6,234 RMB/ton, a daily decrease of 1.36%, a trading volume of 549,800 hands, and a position of 270,151 hands.
Market outlook
SunSirs’ Wood Pulp Analysts believe that the domestic pulp market had gradually shifted to a state of strong supply and weak demand in recent times. The continuous rise in wood pulp prices had led to significant cost pressure on downstream paper mills, so procurement was mainly based on demand. However, there was still an increase in the external quotation, which still supported the price of wood pulp. It is expected that the spot price of wood pulp will temporarily be volatile and weaker in the short term.
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