According to the monitoring of the Commodity Market Analysis System of SunSirs, the prices of softwood pulp and hardwood pulp both showed a significant increase last week. On September 22, the average market price of softwood pulp in the Shandong region was 5,980 RMB/ton, an increase of 5.5% compared to the average price of 5,668 RMB/ton on September 17. On September 22, the average market price of hardwood pulp in the Shandong region was 5,110 RMB/ton, an increase of 6.02% compared to the average price of 4,820 RMB/ton on September 17.
By observing market changes, it can be seen that the prices of softwood pulp and hardwood pulp continued to rise last week. In terms of supply, the sample inventory of domestic main ports last week was 1.869 million tons, a decrease of 24,000 tons compared to the previous month. Inventory continued to show a downward trend, and in addition, the quotation for external pulp continued to rise in October, providing support for the spot market prices of domestic wood pulp.
In terms of demand, the spot market price of imported wood pulp is currently rising strongly, and some hoarders or manufacturers believe that the peak demand season for pulp is approaching. In addition, the frequent price increase letters from upstream and downstream raw paper manufacturers have caused the overall transaction center of the paper industry chain to continue to shift upward, leading to a positive atmosphere enveloping the spot price of wood pulp. The recent fluctuations in the RMB exchange rate have also affected the sustained high cost of pulp imports.
In terms of futures, on September 22nd, the opening price of the Shanghai Stock Exchange pulp futures SP2401 contract was 6,104 RMB/ton, with the latest price of 6,080 RMB/ton, a daily decrease of 0.36%, a trading volume of 533,700 hands, and a position of 293,650 hands.
SunSirs Wood Pulp Analysts believe that the overall capacity utilization rate of the paper industry is high, and with the arrival of the peak market season, paper companies are relatively active in stocking. The continuous improvement of downstream demand and the continuous rebound in finished paper prices have a positive atmosphere for wood pulp demand, and it is expected that the spot price of wood pulp will remain high and volatile in the short term.
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