Pulp Friday: Resale Prices Drop Below $550/t; Positive Week for Softwood

Research evidence excerpt

Pulp Friday: Resale Prices Drop Below $550/t; Positive Week for Softwood

Rodolfo Angele, CFA AC Latin America Equity Research

(55-11) 4950-3888 17 July 2026 J P M O R G A N

rodolfo.r.angele@jpmorgan.com

Canfor to close Northwood NBSK market pulp mill in Q4 2026. According to

Fastmarkets, Canfor will permanently close its Northwood NBSK market pulp mill in Prince

George, British Columbia, by late Q4 2026 due to global oversupply, fiber access challenges,

and ongoing financial losses. The closure will cut 300,000 tonnes of annual NBSK pulp

capacity and directly impact about 300 employees, with the company pledging support and

possible redeployment for affected staff.

Russia’s Kondopoga pulp & paper mill resumes production after four-day maintenance

shutdown. According to RISI, Russia’s Kondopoga pulp & paper mill in Karelia has

resumed production after a four-day scheduled maintenance shutdown, during which all

planned technical upgrades and inspections were completed on time. The mill, a key exporter

to India and part of the Taiga Group, produces about 410,000 tonnes of newsprint annually

and is a major supplier for India’s newsprint imports.

European PIX pulp price indices show little change so far in July. According to

Fastmarkets, European PIX pulp price indices remained largely stable in early July, with

NBSK and BHKP prices showing only minimal week-on-week changes in both USD and

euro terms; the euro’s slight strengthening against the dollar contributed to small declines in

the euro-converted index values.

Södra Q2 2026 results: net sales down 3.4% year on year to SEK 6,947 million.

According to RISI, Södra reported a 3.4% year-on-year decline in Q2 2026 net sales to SEK

6,947 million and a SEK 424 million operating loss, driven by weak market conditions, lower