According to the monitoring of the Commodity Market Analysis System of SunSirs, the price of corrugated paper has continued to decline this week. On March 20, 2025, the average ex factory price of 140g corrugated paper was 2,734 RMB/ton, a decrease of 2.36% compared to the average price on March 16.

In terms of upstream raw materials: This week, the price of waste paper in Zhejiang region has been lowered, and the price of waste paper in domestic paper mills has fluctuated. On March 20, 2025, the average purchase price of A-grade waste yellow board paper in Zhejiang region was 1,502 RMB/ton, a decrease of 1.18% compared to the average price on March 16. Recently, packaging stations have been actively selling their waste paper inventory, resulting in a brief increase in waste paper supply. Some paper mills have taken advantage of this situation to lower the purchase price of waste yellow cardboard, causing market prices to fall accordingly. However, with the decrease in inventory and low recycling volume at the packaging station, the supply of waste yellow cardboard paper has decreased, and the arrival volume of paper mills has been relatively low, resulting in some paper mills raising their purchase prices appropriately.

Supply side: Currently, the corrugated paper mill is operating steadily and inventory is gradually increasing, so the supply pressure continues. The gradual arrival of imported corrugated paper at the port has also increased the supply pressure on the market. In addition, the low price advantage of imported corrugated paper has led to a downward pressure on domestic corrugated paper prices.

On the demand side: The market maintains the traditional off-season trend, downstream packaging factories have limited orders, and the enthusiasm for purchasing raw paper is not high. Affected by the mentality of buying up and not buying down, packaging factories mainly focus on reducing inventory and purchasing for essential needs, resulting in weak market trading. Due to the impact of tariffs imposed by the United States, foreign trade orders have weakened, thereby affecting overseas demand.

The paper analyst of SunSirs believes that the supply and demand pressure in the corrugated paper market is still relatively high, and the support from the demand side is insufficient. The inventory pressure of paper mills has increased, and it is expected that the price of corrugated paper will be under pressure in the short term.

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