In 2023, the spot market price of imported wood pulp fluctuated and declined, which is related to the volatile operation of the market, the downward shift of the cost side, and limited improvement in supply and demand. In 2024, the supply and demand of the pulp market will continue to play a game, and pulp prices are still expected to be under pressure. However, in the long run, under the global pulp and paper equipment investment cycle, the improvement of the macro environment will continue to boost market expectations, and under the role of product financial attributes serving the real economy, the healthy development of the paper industry is expected to accelerate.
Overall, in 2024, there will still be new production capacity released for broadleaf pulp and chemical mechanical pulp both domestically and internationally, and the supply side will continue to be abundant. At the same time, China’s pulp and paper integration process is accelerating, and its dependence on foreign countries is expected to decrease. It is expected that imported wood pulp may operate under pressure, which will weaken the support for spot goods. However, from another perspective, both the supply and demand of pulp in China are showing a positive growth trend. From a long-term perspective, there will still be over 10 million tons of pulp and paper production capacity invested domestically and internationally in the coming years. The speed of profit transmission in the later stage of the industrial chain may accelerate, and the industry profit situation may be balanced. The function of pulp futures in serving the physical industry is highlighted, and after the listing of double adhesive paper, corrugated paper futures, and pulp options in the industry chain, the healthy development of the paper industry is expected to accelerate.
Post time: Feb-02-2024