Newsletter summary

The main contract of pulp futures fell 0. 0Tyrantmegaways.66%, the spot market supply of Shandong coniferous pulp is stable, and the quotation of the paper mill is stable. The import volume of conifer pulp increased by 8% from the previous month.Tyrantmegaways.9%, the month-on-month drop of broad-leaf pulp is 16.5%, the market is oversupplied, the price competition is fierce, and the market shock adjusts in the short term.

Text of news flash

The price of pulp futures fell slightly and the import volume showed a trend of differentiation.

Recently, the main contract of pulp futuresTyrantmegawaysCaused by the market performanceTyrantmegawaysIt has attracted wide attention from investors. The previous day's settlement price was 6334 yuan / ton, while yesterday's closing price closed at 6292 yuan / ton, showing a slight decline of 0.66%. Nevertheless, the spot market supply of imported coniferous pulp in Shandong remains stable, and market participants adjust prices according to market trends. However, high-price transactions face resistance, and the actual transactions are mainly based on rigid demand. The reference price of the market including tax is 6350 yuan / ton.

In the cultural paper and household paper markets, trading activities are not active. At present, the paper mill is mainly committed to delivering on-hand orders, and the quotation remains basically unchanged. At the same time, most paper enterprises in household paper start-up is good, the market supply is adequate, there are no obvious fluctuations. However, in the packaging paper market, the order demand of downstream enterprises has not changed significantly, the market oversupply, resulting in intensified competition, price war intensified.

According to the March data, the import of coniferous pulp reached 854000 tons, an increase of 8.9% from the previous month and 2.0% from the same period last year. Imports of broad-leaf pulp, by contrast, fell to 1.203 million tons in March, down 16.5 per cent from a month earlier and up 2.6 per cent from a year earlier. This data shows that the removal of European ports has created a certain degree of competitive pressure on Chinese port arrivals. Under the condition that the price difference between coniferous pulp and broad-leaf pulp remains high, the price of coniferous pulp has been supported to a certain extent.

Although the cost side has some support to the price, the phenomenon of weakening consumption in the lower reaches of the domestic market still exists. Under the influence of this contradiction, the market may show a trend of shock adjustment in the short term. When making investment decisions, investors should pay close attention to the market dynamics and carefully assess the risks.