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Pulp markets are remaining tight, according to Mark Wilde, senior analyst with Deutsche Bank, a result of tight pulpwood supplies and other constraints in the U.S., strong Chinese demand, and an increase in demand for spot tonnage in the U.S. Global inventories appear lean and near historical lows, despite increasing by two days of supply in December. Major producers announced $30 - $40/metric ton price hikes across key softwood and hardwood grades effective February 1. Reports suggest that February price hikes in China were implemented well ahead of schedule. On the supply side, the impact of several British Columbia restarts (Harmac Pacific-NBSK, Catalyst Paper-NBSK, and Tembec-high-yield) remains an issue. Most of their volume is targeted to China. Last week, two North American pulp mills were sold to Chinese companies, Wilde notes.
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