The 21st Century Business Herald consulted a number of […]
The 21st Century Business Herald consulted a number of futures industry insiders. They generally believe that although the first day of the pulp futures limit was somewhat unexpected, the decline was already expected, which is in line with the global economic environment and the general decline of the domestic commodity market. The fundamentals of the supply and demand relationship in the pulp industry are not optimistic, and they are normal market adjustments.
Ma Wensheng, chairman of Xinhu Futures, pointed out that the price of wood in the United States has also fallen sharply in the near future, and wood is used as the upstream of pulp. Therefore, the market prospect of pulp futures is related to the global economic environment and its own supply and demand relationship.
For domestic papermaking enterprises, the trend of raw materials in the first half of the year, pulp, has been in a stage of gradual decline.
Taking the price of coniferous pulp as an example, from the beginning of the year of 7,200 yuan / ton, almost all the way down to July's 6,500 yuan / ton. After that, there was a short-term rapid increase in prices, which rose back to 7,300 yuan in September.
"The peak season in the fourth quarter of 2017, the downstream demand for early digestion of the downstream orders is slightly weak, the capacity of broad-leaf pulp is released one after another, and the stocks of the major ports are high, etc., the price of pulp has been declining." Zhuo Chuang Information analyst Yu Sai told reporters.
The short-term rebound was due to the support of Brazilian truck drivers, the depreciation of the Renminbi, the strength of the external market and the Sino-US trade friction, which prompted the pulp prices to pick up. However, the downstream shipment of paper products indirectly led to the enthusiasm of the paper mills. Low, the pulp market is deadlocked, and the price of pulp continues to decline.