Pulp & Paper Price Tracker: HW Pulp prices keep falling during the week

Research evidence excerpt

Pulp & Paper Price Tracker: HW Pulp prices keep falling during the week

Weekly News Flow

Asia: China pulp market remains under pressure

FOEX reported that imported pulp prices were mixed in China this week: China net

imported hardwood was down $12.73/t to $568.97/t, and softwood (SW) stayed flat at

$646.39/t. Resale prices increased, hardwood (BEK; Bleached Eucalyptus Kraft) up

$0.32/t to $549.15/t and softwood (NBSK; Northern Bleached Softwood Kraft) increased

$2.33/t to $636.05/t. Shanghai SW futures (September 26 contract) increased $10.28/t

to $608.15/t (net of VAT and logistics).

According to Fastmarkets, sentiment in China’s pulp market remained weak this week as

persistent oversupply continued to pressure prices and limit buyers’ appetite for imports.

Nordic and Canadian producers kept NBSK prices unchanged, while the initially positive

impact from Canfor’s announced Northwood mill closure quickly faded as futures

retreated and arbitrage opportunities disappeared. Hardwood pulp also remained under

pressure, with South American producers reducing BHK prices by $20/t amid

expectations of further supply growth, including APP’s planned OKI expansion. Buyers

continued to favor lower-priced resale pulp and destocking strategies, while port

inventories in Qingdao and Changshu declined slightly overall following the

normalization of operations after recent typhoon disruptions.

Europe: Kondopoga mill resumes production

According to Fastmarkets, Russia’s Kondopoga pulp and paper mill resumed operations

following a scheduled four-day maintenance shutdown. The restart restores production

from one of the country’s key newsprint producers, with the mill having annual capacity

of approximately 410Kt.

Americas: US tariffs pressure Brazilian paper exports