According to the monitoring of the commodity market analysis system of SunSirs, the price of coniferous wood pulp showed an upward trend last week, while the price of hardwood pulp temporarily stabilized. On September 15th, the average market price of softwood pulp in the Shandong region was 5,668 RMB/ton, an increase of 0.5% compared to the average price of 5,640 RMB/ton on September 10th. On September 15th, the average market price of hardwood pulp in the Shandong region was 4,820 RMB/ton, which remained stable compared to the average price of 4,820 RMB/ton on September 10th.

By observing market changes, it can be seen that the price of softwood pulp increased last week, while the price of hardwood pulp has temporarily stabilized. In terms of supply, the recent arrival of wood pulp at ports has decreased, with sample inventory at domestic main ports reaching 1.893 million tons, a decrease of 6.4% on a weekly basis, showing a trend of destocking. As a result, the inventory of wood pulp has decreased, leading to an increase in wood pulp prices.

In terms of demand, as the Double Festival approaches and the consumer market heats up, downstream demand is gradually improving. The current upward trend in the white cardboard market has stimulated some customers to stock up in advance, resulting in an increase in demand for wood pulp. Recently, the central bank has issued a strong signal to protect the exchange rate, and with corrective intervention, the offshore price has dropped from 7.36 to around 7.28, easing the cost pressure of imported pulp.

In terms of futures, on September 15th, the opening price of the Shanghai Stock Exchange pulp futures SP2401 contract was 5,760 RMB/ton, with the latest price of 5,846 RMB/ton, a daily increase of 2.2%. The trading volume was 529,900 hands and the position was 280,586 hands.

SunSirs Wood Pulp Analysts believe that currently, the overall price of wood pulp is relatively strong, with spot prices mostly moving with the pulp futures market. In addition, the downstream market is relatively strong, and there is not much trading pressure at this stage, temporarily supporting the spot wood pulp price. It is expected that the spot wood pulp price will remain high in the short term.

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