On March 22, Suzano announced that the quotation price of broadleaf pulp in the Asian market in April 2024 will increase by US$30/ton, the European market will increase by US$80/ton, and the North American market will increase by US$100/ton.
Russian needle announced that the April quotation of softwood pulp in the Chinese market was US$790/ton. Due to the maintenance and conversion of pulp mills, the supply was halved; Mercer's Canadian Moon softwood pulp was quoted at US$820/ton in April.
Since March, global wood pulp supply has been affected by the strike in Finland. Wood pulp prices have continued to rise, and the papermaking industry has ushered in a new round of price increases.
Huatai Securities pointed out that in the context of intensified fluctuations in raw material prices, companies with upstream and downstream integrated layouts are expected to gain more advantages. It is expected that by 2024, the supply and demand of the paper industry will gradually reach an inflection point, and companies with upstream and downstream integrated layouts will Consolidate competitive advantage.
Orient Securities released a research report stating that destocking of the European and American paper industry chains will come to an end at the end of 2023, and pulp demand will gradually pick up. Disturbances in global pulp supply have occurred frequently since March. It is expected that the mismatch between global pulp supply and demand will be more prominent in the second quarter, superimposing the entire industry chain Pulp inventories are at medium to low levels, and pulp prices are expected to maintain a strong trend in the second quarter.
In terms of bulk paper, we are currently in the traditional peak season for cultural paper. If the pulp price continues its strong trend, the price of cultural paper is expected to achieve cost transmission. The leader of the cultural paper industry, which has a high proportion of self-supplied pulp, is expected to benefit from this round of rising paper prices and achieve profit expansion. .
