SunSirs: China Paper Companies Seek to Improve Profitability by Raising Prices Twice a Month
February 23 2024 15:08:55 SunSirs (Selena)
Entering February, leading domestic paper companies have launched their first price increase action of the year. Chenming Paper, Sun Paper, Jiulong Paper and others have announced price increases and plan to conduct another round of even larger price increases starting from March 1st. Regarding the price increase, relevant companies have stated that it will be beneficial for them to improve their profitability.
In response to the price increase and the current situation in the paper industry, the market has indicated that the current prosperity of the paper industry is mild and upward. It is expected that the overall price fluctuation of paper products will narrow year-on-year in 2024. The operating and debt repayment indicators of paper companies are expected to be restored, but the short-term debt scale of some leading enterprises is still large, and their liquidity risk is worth paying attention to.
Recently, Chenming Paper Industry issued a price adjustment notice, stating that starting from February 1st, all cardboard products produced by the company will be uniformly increased by 100 RMB/ton. Starting from March 1st, all cardboard products produced by the company will be uniformly increased by 200 RMB/ton. Top paper companies, including Sun Paper and Jiulong Paper, will also raise prices.
The round of price hikes by leading paper companies has prompted small and medium-sized paper companies to follow suit. For example, Dongguan Jintian Paper, Jiangsu Jintian Paper, and Sichuan Jintian Paper, which are subsidiaries of Jintian Paper, will uniformly increase the prices of all gray cardboard series products by 50 RMB/ton on the original basis from February 1st. This price adjustment includes all previously outstanding orders.
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