by Sean Ungerer | Oct 24, 2022 | Forestry and Paper
Key w/w moves: Cotton -5%; ICE cotton contract -5%; Polyester -3%; HW DWP 0%; China-origin -2%, medium-grade VSF 0%; and high-end VSF 0% and Lyocell 0%. Cotton is now trading at a 2% discount to VSF (2021 average premium: 30%) and a 70% premium to polyester (2021...
by Sean Ungerer | Oct 18, 2022 | Forestry and Paper
Pulp shows first signs of weakness: NOREXECO pulp futures for CY 23E imply a 15-19% decline in Europe, and a decline of 11-22% in China. Ence’s Pontevedra BEK pulp mill (515ktpa of BEK pulp) still down as firm works on alternative solution for water supply. The mill...
by Sean Ungerer | Oct 17, 2022 | Forestry and Paper
Key w/w moves: Cotton +3%; ICE cotton contract -3%; Polyester +3%; HW DWP -3%; China-origin -1%, medium-grade VSF 0%; and high-end VSF 0% and Lyocell 0%. Cotton is now trading at a 3% premium to VSF (2021 average premium: 30%) and a 74% premium to polyester (2021...
by Sean Ungerer | Oct 14, 2022 | Forestry and Paper
Strong performance with underlying EBITDA up 55% y/y but down 7% q/q (Q3 21A: EUR 290mn) to EUR 450mn (CRe: EUR 500mn): This was driven by higher prices and overall volume growth more than offsetting significant cost pressures. Impact of planned maintenance was c. EUR...
by Sean Ungerer | Oct 13, 2022 | Forestry and Paper
Mondi will provide a Q3 22E trading update this Friday: We expect EBITDA to increase by 74% y/y (+4% q/q) to EUR 500mn (Q3 21A: EUR 287mn excl. Russia). We expect the impact from planned maintenance to be similar compared to Q3 21A (EUR 30mn). Q3 22A key price and FX...
by Sean Ungerer | Oct 7, 2022 | Forestry and Paper
September average price changes: NBSK pulp +1% m/m; +12% y/y; BHKP pulp 0% m/m; +21% y/y; China BHKP net pulp 0% m/m; +39% y/y; China NBSK net pulp -3% m/m; +14% y/y; LWC +1% m/m; +74% y/y; CWF +2% m/m; +75% y/y; UWF +3% m/m; +54% y/y; Newsprint 0% m/m; +76% y/y;...
