N.A. Pulp Shipments Improve, But Prices Under Pressure

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September North American pulp shipments were better-than-expected, Mark Wilde, senior analyst with Deutsche Bank, reports. But pulp prices remain under pressure, he adds. Key issues, he says, are soft European pulp demand and an uncertain global environment.

"We’ve heard reports of high pulp inventories in China, but these are difficult to substantiate. Canfor’s $50/metric ton price cut in NBSK (northern bleached softwood kraft) for China (new level = $790/metric ton) for October underscores weak demand. Canfor had earlier announced flat prices to China for October. We continue to monitor FX movements closely," Wilde says.