According to the data monitoring of SunSirs, spot prices of softwood pulp and hardwood pulp showed a reverse trend this week. On January 6, the average market price of softwood pulp in Shandong was 7,360 RMB/ton, up 0.27% compared with the average price of 7,340 RMB/ton on January 1. On January 6, the average market price of hardwood pulp in Shandong was 6,410 RMB/ton, down 0.56% compared with the average price of 6,446 RMB/ton on January 1.

According to the observation of market changes, after the New Year's holiday, the wood pulp market continued to fluctuate, and the pulp futures price was in a state of rising and falling. At present, the market is increasingly worried about economic recession, and the market risk appetite is poor. In addition, international oil prices continued to fall, chemicals were green all over the country, which had a certain effect on pulp prices, while the spot price trend of softwood and hardwood pulp continued to diverge.

The demand of downstream base paper manufacturers continues to be light, and some base paper enterprises are affected by public health events, so their production enthusiasm is average, and the procurement basically maintains the rigid demand, with limited support for the pulp market.

In terms of futures, on January 6, the opening price of the pulp futures SP2305 contract of the Shanghai Futures Exchange was 6,612 RMB/ton, the latest price was 6,670 RMB/ton, the number of transactions was 173,200 and the number of positions was 139,030.

The prices of downstream white paperboard and gray bottom white board continued to operate stably, and the paper price rose weakly, with average market supply and demand and trading. At present, affected by the early stage of the epidemic, the high infection of the population is not conducive to the short-term commercial circulation, and the growth of paper consumption needs a complex process. In addition, the channel inventory needs to be digested, and there are no other reasons that affect the market trend. The terminal orders are limited, and the transportation in some regions is not smooth, so the market trading atmosphere is weak.

Wood pulp analysts from SunSirs believe that the port inventory is now in the accumulated state, and the arrival volume has not changed much compared with the previous period, but the shipment speed has slowed down. Downstream stock has been closed before the Spring Festival holiday. The price trend of hardwood pulp is weak, and the short-term price difference of needle hardwood pulp may continue to expand. It is expected that the short-term spot price of wood pulp will be stable in China.

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