• Further pulp momentum this week, with the US playing some catch-up: Domtar (1.9mtpa of market pulp capacity in the US & Canada) has implemented its third price increase, cumulatively USD 280/t since December last year.
  • Non-integrated Graphic Paper producers further in the red: The CWF/pulp spread was further in the red this week (-EUR 28/t), while the UWF spread is down 4% w/w.
  • If successful, US UFS price increases to benefit European players (already announced price increases): North America’s 2 largest UFS producers (Packaging Corp of America and Domtar) announced price increase of 6-8% effective mid-March.
  • Containerboard sees further gains and more on the cards: Kraftliner and testliner were up w/w (2.0% and 3.3%, respectively). DS Smith is set to increase brown testliner grades by EUR 50/t in Europe effective on all new orders. Key drivers include increased cost pressure and continued strong demand. Germany’s Niedeauer Mühle (family-owned) is set to increase white top testliner by EUR 40/t from 1 March in Europe and for exports.  
  • OCC prices up 3.5% w/w to EUR 135/t (+277% y/y): Based on a recent RISI study, pricing for recovered paper is expected to rise along with demand and recovery rates from 2021 to 2025 supported by e-commerce and a global recovery.
  • Momentum building for kraft paper pricing, this time in North America:  8 North American kraft paper producers (incl. WestRock, the largest US producer) have announced price increases of USD 50-70/t (dependent on grade) for unbleached kraft paper from March/April.

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