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SunSirs: China Wood Pulp Prices Continue to Rise, and will still in a Good Situation in the Short Term

December 21 2020 11:08:30     SunSirs (Selena)

According to the data of SunSirs, the spot price of wood pulp still showed an upward trend last week. The price of softwood pulp rose about 50 RMB/ ton, and that of hardwood pulp rose about 200 RMB/ ton. On December 17, the average price of softwood pulp in Shandong area was 5,087.5 RMB/ ton, which was increased 75 RMB/ ton, or 1.5% compared with the average price of 5,012.5 RMB/ ton on December 13 in Shandong. On December 17, the average market price of hardwood pulp in Shandong was 4,025 RMB/ ton, which was 137.5 RMB/ ton higher than that on December 13, the average market price of hardwood pulp was 3,887.5 RMB/ ton, an increase of 3.54%.

From the observation of market changes, the spot market of imported wood pulp is affected by the positive news, and the market quotation of softwood pulp and hardwood pulp continues to show an upward trend. The reasons for the continuous price rise are: first, the main contract of pulp futures continues to pull up strongly, driving up the quotation in the spot market; secondly, the external quotation of imported wood pulp rises one after another, which plays a certain role in supporting the confidence of the industry; finally, affected by the news of rising ocean freight and frequent price increase letters issued by some downstream paper enterprises, it plays a certain supporting role in the wood pulp market.

At present, the price of downstream cultural paper and household paper is slightly insufficient, and the large volume of wood pulp market is rigid. The market situation of coated paper is mainly in consolidation; the market of double offset paper is weak, and the market price begins to loosen and fall; the white cardboard is strong and fluctuates, and the price continues to rise; local prices of household paper market start to hit the bottom and rebound. Although wood pulp prices continue to rise, but at present, the improvement in fundamentals will still be limited. The reference quotation range of softwood pulp is about 5,100 RMB/ ton for Yinxing and 4,000 RMB/ ton for hardwood pulp.

In terms of futures, on December 17, the opening price of SP2103 main contract of Shanghai Futures Exchange was 5,192 RMB/ ton, and yesterday's settlement price was 5,206 RMB/ ton, with 61,577 transactions and 151,692 positions. The opening price of SP2101 contract was 5,086 RMB/ ton, and settlement price of the previous day was 5,118 RMB/ ton, with 2,343 transactions and 18,055 positions.

SunSirs wood pulp analysts believe that the recent fluctuations in pulp prices continue to intensify, the current spot price of imported wood pulp continues to rise, pulp futures strong pull up, driving the trend of the spot market. However, some traders continue to close the plate, and the turnover tends to be real. It is expected that the wood pulp spot price will still be in a favorable situation in the short term in China.


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