According to the data monitoring of SunSirs, the spot price of softwood pulp rose and fell last week, while the price of hardwood pulp fell. As of December 9, the average market price of softwood pulp in Shandong was 7,350 RMB/ton, up 0.41% compared with the average price of 7,320 RMB/ton on December 4. On December 9, the average market price of hardwood pulp in Shandong was 6,510 RMB/ton, down 1.06% compared with the average price of 6,580 RMB/ton on December 4.

According to the observation of market changes, the spot price of softwood pulp continued to fluctuate last week, and the pulp futures price remained slightly upward. On the supply side, at the beginning of November, news of work stoppages began to spread from major timber producing areas in Canada, and the strike crisis of the American Railway Association was on the verge of breaking out and the strike incident in Chilean ports resumed. Concerns about pulp supply continued to rise.

On the demand side, the current downstream demand is insufficient, the market's willingness to purchase wood pulp is still low, and the domestic port stock of pulp is accumulated in a narrow range, which depresses the spot price of wood pulp. The RMB exchange rate fell below 7, the cost of imported wood pulp was reduced, and the market stock sentiment was not high.

In terms of futures, on December 9, the opening price of the pulp futures SP2301 contract of the Shanghai Futures Exchange was 7,230 RMB/ton, the latest price was 7,256 RMB/ton, 121,900 contracts were traded, and 124,246 positions were held. The opening price of the sp2305 contract was 6,906 RMB/ton, the latest price was 6,918 RMB/ton, 67,400 deals were transacted, and 119,709 positions were held.

Wood pulp analysts of SunSirs believe that the current pulp futures 01 contract is in a long position shifting state, but the cost support is still strong. The continuous decline of hardwood pulp has a drag on coniferous wood pulp. It is expected that the spot price of wood pulp in China will remain high in the short term.

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