November 2020

Pulp Capacity & Price Changes

• Global producer inventories declined to 39 days of supply in Oct ‘20 (36 days for softwood and 42 days for hardwood) and were seven days lower than Oct ‘19. (PPPC, Nov 2020)
• In China, hardwood pulp demand is robust, with high-quality packaging grades enjoying particularly strong run and P&W papermakers witnessing some seasonal momentum. This result of (some) acceptance of USD$20/t price hike in Nov ‘20; from $450-470/t in Oct ‘20. (Internal, Nov 2020)
• In rest of Asia, hardwood pulp demand continues to improve with the gradual reopening of the economy and also, higher demand from year-end printing season (calendar / diaries) (Internal, Nov 2020)

Paper Capacity & Price Changes

• • Asia Pacific Resources International (APRIL) announced a $50/tonne hike internationally on its fine paper range (in Nov ‘20), generally effective for deliveries in the first quarter of 2021. (RISI, Nov 2020)