Monthly Analysis Of China's Imported Wood Pulp Price Index (June 2019)

In June, China's imported wood pulp price index fell. As of June 27, China's imported wood pulp price index closed at 968.59 points, down 105.68 points or 9.84% from the end of May. The main reason for the price decline is that the external disk has been released in June and July, and the pulp stock is high. The downstream paper mills buy small orders, the imported wood pulp is under heavy pressure, and the operators are selling at a reduced price.


In terms of sizing, the price index of broadleaf pulp closed at 931.50, down 12.34% from May 31. The outer disk of imported broadleaf pulp is not clear. There are rumors that the outer disk of poplar pulp is 490 US dollars / ton, and the outer disk of Bayu is talking about 530-550 US dollars / ton. As a result, the spot price continues to fall, and the spot price of broadleaf pulp is accumulated in the month. Falling 500-700 yuan / ton, Shandong, Jiangsu, Zhejiang and Shanghai parrot tax-included price of 4,200 yuan / ton, there are also some feedback from the industry, some brands have broken "4." The frequency of merchants' offer adjustment in South China is low, and the price of pulp is replenished at the end of the month.


The price index for softwood pulp closed at 985.60, down 8.85% from May 31. In June, the import of foreign needles was down, and the paper mill continued its on-demand buying strategy. The pressure on the stocks of the merchants was too large, and the price of pulp continued to decline. At the end of the month, some foreign pulp mills were affected by the pressure of raw material costs, and the plan for reducing production in July was announced. There is a narrowing. The price of silver stars in Shandong, Jiangsu, Zhejiang and Shanghai is 4,450 yuan / ton, the price of silver stars in Guangdong is 4,450-4,500 yuan / ton; the price of needles is slightly higher than 50-100 yuan / ton, except for North Wood.


The price index of the color paste closed at 1079.91, down 5.93% from May 31; the price index of chemical pulp closed at 961.37, down 7.58% from May 31. The imported color paste and chemical pulp fell below RMB 5,000/ton and RMB 4,000/ton respectively. The main reason is that the bleaching chemical pulp continues to decline, and the price space of the extruder pulp is reduced. The pressure reduction of the merchants is reduced by 300 yuan/ton; while the downstream of the color paste is weakly sorted, and the price of bleached chemical pulp continues to be affected, driving the true color. The price of pulp dropped by 250-500 yuan / ton.


Zhuo Chuang analysis, July is still the traditional off-season of pulp-based finished paper, the main pulp stocks are high-level finishing, according to the Brazilian Customs announced the export volume in May, the broad-leaf pulp arrivals in Hong Kong did not decrease, coupled with the rumor that the new outer-leaf pulp is further down, It is expected that the price of broad-leaf pulp will be weak in July, and the price index of broad-leaf pulp will still be the largest, while the price index of soft-leaf pulp will be affected by the Canadian pulp mill's approach to the cost line and production reduction plan, and the rate of decline may slow down. The color paste and chemical pulp continued to be sold, and the decline was related to the bleached chemical pulp. It is expected to continue to fall. On the whole, it is difficult to ease the supply of demand in the pulp market in July, and the price index of imported wood pulp is still in the downward channel.


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