"Gold nine silver ten" to promote the paper pulp price rise paper enterprises profits improved significantly

October 19, 2023

Famous paper companies such as Nine Dragons Paper, Century Sunshine Paper and Silver Pigeon Paper were all involved, with price increases ranging from 50 yuan to 200 yuan per ton. Among them, the silver pigeon paper price increase letter shows that from October 15, the price of living paper will increase 200 yuan / ton, from October 16, the price of living paper products will also increase 200 yuan / ton.

 A listed paper executive said in an interview with China Business News that paper prices continued to rise in October, mainly due to the rise in raw material prices and the recovery of market demand. In fact, since July this year, the rise of raw material prices and driven the rise of paper prices, especially the profits of large pulp integration enterprises have been significantly improved.

 Reporters noted that in the first half of this year, affected by poor downstream demand and other reasons, the performance of most listed paper enterprises declined, and some leading paper enterprises even suffered losses.

 With the arrival of the "gold nine silver ten" peak season, cultural paper, white card paper, packaging paper and other prices gradually landed, the industry profits have been improved.

 On September 26, Chenming Paper (000488.SZ) said on the investor interactive platform that the company is currently at full capacity of production, and the early price increase letter has been basically implemented in place. The steady increase of finished paper prices can effectively promote the improvement of the company's profitability.

 Mountain Eagle International (600567.SH) announced on September 26 that in the third quarter, the company's domestic paper sector sales is expected to reach 1,816,400 tons, up 17.6% year on year, downstream demand continues to improve, the company since late August the corresponding higher product prices, the operating situation improved from the previous month.

 Guosheng securities latest research report that the current pulp and paper prices gradually implemented, waste paper scale paper mill led the rise, stable price rise, paper industry profit repair can be expected.

 At the same time, the reporter also noted that, from the paper enterprise price increase content of the letter, the upstream pulp prices continue to rise, is the main reason for the paper mill price.

 Zhuochuang Information wood pulp market senior analyst Chang Junting told reporters that the third quarter of China's imported wood pulp spot market prices generally showed a recovery trend. Take the price of coniferous pulp as an example, the average price rose from July to September, among which the increase in September was 5.97% in September, the most obvious increase. As of September 28, the average price of China's imported needle pulp was 6,188.93 yuan / ton, up 14.37% compared with the end of June.

"Demand volume is close to expectations, providing support for higher pulp prices."Chang Junting analysis said that the third quarter of the wood pulp demand increment is stable. The third quarter is the turning stage of the market peak season low and peak season. In the cycle, new production capacity release of base paper, some holidays and e-commerce festivals provide some positive support for terminal consumption. The total demand for wood pulp in 7899 months is increasing, which is good for the effective volume of the pulp market.

For the future market trends, Chang Junting thinks, in the fourth quarter imported wood pulp spot market in the traditional season, supply and demand face continuous game, although wood pulp spot cost is still high, but the downstream mill or continue to improve the profit structure, superposition of wood pulp new capacity stability release the impact of the market, so in the fourth quarter of pulp prices or after Yang suppression situation, amplitude is relatively limited.

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