According to the monitoring of the commodity market analysis system of SunSirs, the price of corrugated paper has temporarily returned to stable operation this week. On March 6, 2025, the average ex factory price of 140g corrugated paper was 2,856 RMB/ton, which remained stable compared to the average price on March 1.

In terms of upstream raw materials: This week, the price of waste paper in Zhejiang region has stopped falling and rebounded, and the prices of waste paper in domestic paper mills have shown an upward trend. On March 6, 2025, the average purchase price of A-grade waste yellow board paper in Zhejiang region was 1,524 RMB/ton, an increase of 2.83% compared to the average price on March 1. In March, the purchase prices of waste paper from paper mills in various regions returned to an upward trend. As the operating rate of paper mills gradually reached full capacity, the inventory of waste paper in paper mills decreased significantly. Therefore, paper mills have raised the prices of waste paper to increase the amount of waste paper received.

In terms of supply: Currently, the production of paper mills in various regions is relatively stable, and the supply of corrugated paper is steadily increasing. In addition, the gradual arrival of imported corrugated paper at the port after the New Year has brought slight pressure to the domestic market supply, resulting in short-term pressure on the supply market. The increase in new production capacity will further intensify the market competition pattern.

In terms of demand: Although from a seasonal perspective, corrugated paper is in the traditional off-season of consumption from March to August, the recent increase in waste paper prices will have a positive effect on corrugated paper prices. However, the downstream terminal market's inventory usage before the year is gradually at a low level, so there may be purchasing intentions in the future, which may bring short-term demand benefits.

The paper analyst of SunSirs believes that the current corrugated paper market is affected by the rise in waste paper prices and the release of price increase letters from leading paper mills. The market has a strong wait-and-see attitude, and the future trend will depend on the implementation of price increases by leading paper mills. It is expected that the short-term corrugated paper prices will mainly be on the wait-and-see side.

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