by Sean Ungerer | Mar 24, 2023 | Forestry and Paper
Pulp prices stable to slightly down: Hardwood DP was stable this week, while softwood DP decreased by 1% w/w. US spot pulp prices drop $20-50/t with demand softening as paper mills increase downtime. NOREXECO pulp futures for CY 23E imply an 5-9% decline in Europe,...
by Sean Ungerer | Mar 17, 2023 | Forestry and Paper
Paper pulp prices under pressure in all regions, while DP continues to gain ground: Hardwood DP increased by 1% w/w, while most paper pulp grades were down 1%. Pulp purchases in China have paused ahead of the upcoming Shanghai Pulp Week. NOREXECO pulp futures for CY...
by Sean Ungerer | Mar 10, 2023 | Forestry and Paper
Mixed moves for pulp: Softwood pulp prices are holding ground, while hardwood is coming under further pressure. Hardwood DP is bucking the trend, however. NOREXECO pulp futures for CY 23E imply an 8-11% decline in Europe, and a decline of 6-11% in China, with more...
by Sean Ungerer | Feb 17, 2023 | Forestry and Paper
Mixed moves for pulp this week: Prices in Europe were up c.1% (but down in $). Softwood gained further ground in China, while hardwood came under pressure. NOREXECO pulp futures for CY 23E imply an 8-13% decline in Europe (2024: -15-26% decline), and a decline of...
by Sean Ungerer | Feb 10, 2023 | Forestry and Paper
Further pressure on paper pulp prices: NOREXECO pulp futures for CY 24E imply a 16-28% decline in Europe, and a decline of 8-16% in China. Graphic Paper prices hold steady, except for CM: After factoring in a 30% discount to list pulp prices, the CWF/HW spread was up...
by Sean Ungerer | Feb 7, 2023 | Forestry and Paper
Sappi remains undervalued despite ticking all the right boxes in 2022, but macro-outlook likely to see this persist: In FY 22A, Sappi printed a record EBITDA ($ 1.4bn), reduced net debt by $783mn (equal to -40%), with net debt/EBITDA reaching 0.9x (lowest level since...
