Pulp Prices Near Record Levels
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North American pulp producers have joined their European counterparts in announcing a June price hike, Wilde reports. Last week, North American producers announced a $20/metric ton price hike on northern bleached softwood kraft pulp (NBSK). If implemented, Wilde explains, this will take North American NBSK to a record level of $1,040/metric ton. Low inventory levels, second quarter maintenance downtime, and a weak U.S. dollar are key drivers. In Europe, producers have set NBSK at $1,040/metric ton, +$30/metric ton m/m. However, a strong euro has limited margin gains for euro-based mills.
Meanwhile, Asian prices are under pressure. In China, trade contacts suggest that local NBSK prices have fallen ˜$70 - $80/metric ton from May's $920 - $930/metric ton list price level in recent weeks, Wilde says. The key driver is a $500/metric ton plunge in spot dissolving pulp (DP) prices in China, he adds.
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