Analysis of the Pulp and Paper Market (7.31-8.04)

Imported Wood Pulp Market:
Futures market: This week, the futures market rose and fell, with financial factors being the main factor. This week, the Canadian port strike ended. In terms of external trading, Arauco in Chile reported an increase of $10/ton in both coniferous and broadleaf pulp in August, while the Canadian pulp lion brand's external trading increased by $20/ton compared to the previous round. Suzano announced an increase of $20/ton according to the wood pulp quotation in August, while Brazil's Brazilian port saw an increase of $20/ton compared to the previous round. European port wood pulp inventories have remained at historical highs, The domestic import volume in June decreased by 4.2% month on month, with a year-on-year increase of 28.5%. Overseas demand is weak, and pulp factory shipments are skewed towards China. It is expected that the concentration in August will be significant, and the pressure on the supply side will not decrease. At present, the price increase of downstream Cultural Paper has basically been implemented, enhancing the confidence of the industry in pricing.
Spot market: Downstream acceptance of high priced raw materials is relatively low, and pulp market transactions are relatively in demand. Needle pulp, with stable supply, and prices adjusted according to market conditions, is just needed for transactions. Referring to the quotation of Silver Star 5500 yuan/ton, Moon 5550 yuan/ton, Maple 5600 yuan/ton, Russian pulp 5300 yuan/ton, Kailipu and Beimu 5900 yuan/ton in the Qingdao region, a decrease of about 50 yuan/ton compared to last week. The broadleaf pulp, as reported by the industry, has a tight supply in the market and is reluctant to sell at low prices. Coupled with the rise of downstream cultural paper, the external market has reported an increase, further increasing the industry's quotation for broadleaf pulp; Market reference Qingdao region offers prices of 4700 yuan/ton for goldfish, parrots, and celebrities, 4650 yuan/ton for second class broadleaf pulp, and 4650 yuan/ton for poplar wood; Compared to last week, the price has increased by 100 to 150 yuan/ton, resulting in a decrease in market supply due to the natural color pulp. The operator is reluctant to sell at low prices, and the quotation has increased by 100 yuan/ton. Please refer to the quotation of 5700 yuan/ton from Venus; Chemical-mechanical pulp, with limited supply, with a reference quotation of 3900 yuan/ton for Kunhe. The market mainly purchases according to demand.
National waste market:

This week, the price of domestic waste paper continued to decline slightly, with little change compared to the previous period. The number of paper mills in the decline has increased, and the overall performance has remained stable with little change. Some paper mills have adjusted slightly according to their needs, until the weekend when the purchase price of some paper mills slightly increased by about 20 yuan/ton. On the supply side, the recycling volume of the packaging plant is gradually improving with the arrival of summer, and the market inventory has slightly increased compared to the previous period. In terms of demand, the terminal market has gradually recovered after a period of recovery, and the market's purchasing power has slightly eased compared to last week; In addition, downstream finished paper has entered the off-season of the industry, and the market demand is insufficient. Distributors often restock according to orders, and the market demand is mainly in demand. The price of white waste paper has slightly declined, with the price of white waste paper decreasing by about 20-30 yuan/ton compared to last week, indicating average market demand. In the off-season of finished paper sales for downstream paper companies, with the emergence of extreme prices and the replenishment of waste paper raw materials by paper companies, there is a high possibility of short-term bottoming out and bottoming in of waste paper prices, and the overall weakness is still difficult to change. The prices of discarded newspapers have partially declined, the market supply is low, and the trading atmosphere is light. It is expected that the market price may continue to fluctuate slightly in the current trend in the later stage.