Market Pulp Slack through September
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The U.S. NBSK (northern bleached softwood kraft) list price fell $20/metric ton to $970/metric ton in September, according to Mark Wilde, senior analyst with Deutsche Bank. Spot prices are weak and far below these reported list prices, Wilde notes, adding that falling prices are beginning to trigger supply responses, and several producers have announced downtime for the fourth quarter. "We're watching FX closely. If the U.S. dollar appreciates against the euro and Canadian dollar, it will aid margins for high-cost producers and could produce lower-than-expected ‘trough' prices. We're also watching recent declines in the Brazil Real," he says.
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