Market Pulp near Bottom
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"Are global NBSK prices approaching a bottom?" asks Mark Wilde, senior analyst with Deutsche Bank, who notes that in Europe, NBSK (northern bleached softwood kraft) producers are attempting to raise January ($850/metric ton) prices. Canfor recently announced January North American NBSK at $870/metric ton, -$20 m/m, he adds. "We remain cautious. Pulp demand in Europe is weak, paper demand in other developed countries remains soft, and pulp inventories remain high. A weakening euro is reducing the ‘break-even' point for high-cost European pulp mills and could drive U.S. $-based prices lower," Wilde says.
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