According to the monitoring of the commodity market analysis system of SunSirs: the price of corrugated paper has maintained a downward trend this week. The average ex-factory price of corrugated base paper 140g on April 3, 2025 was 2,692 RMB/ton, which was 0.96% lower than the average price on March 30.

In terms of upstream raw materials: this week, the price of waste paper in Zhejiang Province stopped falling and rebounded, and the prices of waste paper in domestic paper mills showed an upward trend. On April 3, 2025, the average purchase price of grade A waste yellow board paper in Zhejiang Province was 1,490 RMB/ton, which was 2.62% higher than the average price on March 30. This week, the inventory of waste paper in paper mills loosened slightly and fell, so paper mills in many places raised the price of waste paper to increase the arrival of waste paper. In addition, the recent waste paper recycling is in the off-season, and the recycling volume of packaging stations is expected to be general. The intention to ship will remain stable. The supply of waste yellow board paper may be relatively flat, and the price increase is more obvious under the condition of weak supply and strong demand.

On the supply side: The current inventory of corrugated paper mills has gradually risen to a high level, increasing the supply pressure on the market, resulting in continued supply pressure. Due to the widening price gap between domestic and foreign base paper, imported paper has obvious advantages in the domestic market, and some packaging companies have increased their enthusiasm for imports, which has increased the amount of imported paper arriving at the port after the holiday, further increasing the supply pressure on the market.

On the demand side: April is still the traditional off-season for the market, and the expected increase in terminal consumption is limited. Downstream packaging factories have a certain ability to replenish inventory, but their mentality is cautious, and the possibility of maintaining rigid demand for base paper purchases is relatively high.

Paper analysts at SubSirs believe that the current supply and demand and cost pressures in the corrugated paper market are still relatively large. The recent rebound in upstream waste paper prices will provide some support for corrugated paper prices. It is expected that the price of corrugated paper will remain weak and stable in the short term.

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