According to the monitoring of the commodity market analysis system of SunSirs: the price of corrugated paper stabilized and fell this week. The average ex-factory price of 140g corrugated base paper on March 13, 2025 was 2,800 RMB/ton, down 1.96% from the average price on March 9.

In terms of upstream raw materials: this week, the price of waste paper in Zhejiang Province rose slightly, and the prices of waste paper in domestic paper mills mostly stopped rising and fell. On March 13, 2025, the average purchase price of grade A waste yellow board paper in Zhejiang Province was 1,530 RMB/ton, up 0.39% from the average price on March 9. Recently, paper mills have adjusted the price of waste paper according to their own needs, but as the intention of packaging stations to ship will increase, the supply of waste yellow board paper may increase, and the inventory of finished paper in paper mills may continue to rise. The operating load rate of some paper mills may be under pressure, which is unfavorable for the consumption of waste yellow board paper, and may be under pressure in the short term.

On the supply side: At present, the actual operating rate of some production lines exceeds expectations, the output recovery is relatively fast, and the inventory of enterprises has increased significantly, and the market supply pressure has gradually increased. The import volume of paper arriving at the port in some local areas is large, which puts further pressure on the supply side. Coupled with the impact of the US tariff increase, bearish sentiment has intensified, and prices have fallen weakly.

On the demand side: The current market is still in the traditional off-season, the terminal recovery is slow, and the downstream packaging factory orders are insufficient. Affected by the mentality of buying high and not buying low, the enthusiasm for purchasing base paper is not high, and most of them maintain rigid demand purchases, and the market trading is sluggish. Affected by the US tariff increase, foreign trade orders have weakened, which has affected the overall demand situation.

Paper analysts at Sino-Business believe that the contradiction between supply and demand in the corrugated paper market has gradually become prominent, which is the main reason for the decline in market prices. The market supply and demand pressure is still large, which is bearish for price operation. It is expected that the price of corrugated paper will be weak and stable in the short term.

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