According to the data monitoring of SunSirs, the spot prices of coniferous wood pulp and hardwood pulp are weak and fluctuating down recently. As of December 22, the average market price of softwood pulp in Shandong was 7,280 RMB/ton, a decrease of 0.98% compared with the average price of 7,350 RMB/ton on December 11. On December 22, the average market price of hardwood pulp in Shandong was 6446 RMB/ton, down 0.98% compared with the average price of 6,510 RMB/ton on December 22.

From the observation of market changes, the spot price of wood pulp has shown a weak downward trend in the near future. On the supply side, although the import cost has decreased, the price remains high. At present, the overall import volume of pulp is still below the level of the same period last year. The cumulative import volume of coniferous wood pulp from January to November is 5.934 million tons, down 16.8% year on year. In the case of tight supply, the support for the pulp market is limited.

On the demand side, the demand of pulp downstream base paper manufacturers has basically maintained a rigid demand towards the end of the year, and the price of finished paper has been under significant pressure due to the introduction of technical transformation capacity and new capacity. In addition, the capacity utilization rate of manufacturers affected by health events is relatively general, the follow-up of terminal orders is insufficient, the production mood is poor, and the demand for wood pulp is difficult to rise in the short term.

In terms of futures, on December 22, the opening price of the pulp futures sp2305 contract of the Shanghai Futures Exchange was 6600 RMB/ton, the latest price was 6,540 RMB/ton, 126,000 deals and 127,827 positions were traded. The opening price of the sp2301 contract was 7,130 RMB/ton, the latest price was 7,164 RMB/ton, 9,779 deals were concluded and 26,721 positions were held.

The wood pulp analysts of SunSirs believe that the current spot supply of pulp changes little, and the domestic inventory is low. The paper pulp futures market was dominated by small shocks. After the impact of delivery logic on the market was weakened, the high price of wood pulp fell back. It is expected that the short-term spot price of wood pulp will maintain wide shocks.

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