SunSirs: China Corrugated Paper Maintains Upward Trend in the Short Term or Continues to Rise

According to the monitoring of the Commodity Market Analysis System of SunSirs, the price of corrugated paper has maintained an upward trend this week. On August 14, 2025, the average ex factory price of 140g corrugated paper was 2,610 RMB/ton, an increase of 0.69% compared to the average price on August 10.

In terms of upstream raw materials, the overall price of waste paper in Zhejiang region has risen this week, while the price of waste paper in domestic paper mills has fluctuated slightly. On August 14, 2025, the average purchase price of A-grade waste yellow board paper in Zhejiang region was 1,632 RMB/ton, an increase of 2.13% compared to the average price on August 10. Entering August, the price of waste yellow cardboard paper accelerated its rise, and continuous rainfall in many regions of China caused market trading to be hindered, resulting in an overall supply-demand imbalance. In addition, the prices of large paper mills led the way, thus driving up market prices.

On the supply side: Recently, the inventory pressure of paper mills has eased, and some enterprises have undergone maintenance, resulting in a decrease in production, which has to some extent alleviated the supply pressure. In addition, the continuous rise in raw material waste paper prices, coupled with favorable cost conditions, has driven up the price of corrugated paper.

In terms of demand, the current corrugated paper market is experiencing a strong atmosphere of price increases, with frequent price increase letters from leading paper mills. This has increased the enthusiasm of downstream packaging factories to purchase raw paper, and both downstream and end markets are making appropriate stock replenishment. In addition, the recent extension of the US China trade tariff truce may release some export demand in advance, which is favorable for the upward movement of raw paper prices in the market demand.

The paper analyst from SunSirs believes that some large-scale paper mills still have price increase letters issued, and some small and medium-sized paper mills also have expectations of price increases, leading to a strong atmosphere of price increases in the market. It is expected that the price of corrugated paper may continue to rise in the short term.

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