by Sean Ungerer | Jul 26, 2021 | Forestry and Paper
Key YTD moves: Polyester +23%; HW DWP +38%; China-origin DWP +26%; medium-grade VSF +12% and high-end VSF +15%. In contrast, Lyocell is down 5%. VSF prices in the green again this week: The VSF operating rate was stable at 74%, while VSF inventory days dropped again...
by Sean Ungerer | Jul 23, 2021 | Forestry and Paper
Nordic Paper benefitted from a strong Q2 21A: Fundamentals for specialty paper products remains strong, providing underpin for volume growth of 7% y/y and EBITDA margin expansion to 20.3%. ROCE remains robust at 18.4% (Q2 20A: 33.7%) and gearing is in check,...
by Sean Ungerer | Jul 22, 2021 | Forestry and Paper
China pulp prices further in the red this week: China import pulp prices fell further this week (SW: -1% and HW: -8%). The September BSK future (SHFE) settled at USD 843/t last week. NOREXECO pulp futures remain unchanged and for the CY Q4 20E contract imply a 12-13%...
by Sean Ungerer | Jul 21, 2021 | Forestry and Paper
Q2 21A profitability continued to strengthen: Revenue increased by 2% y/y (-4% q/q) on the back of strong cartonboard, sack and kraft paper demand. This supported adjusted EBITDA margin expansion of 100bps y/y to 13.6% but down 181bps q/q due planned and unplanned...
by Sean Ungerer | Jul 19, 2021 | Forestry and Paper
Key YTD moves: Polyester +20%; HW DWP +38%; China-origin DWP +29%; medium-grade VSF +11% and high-end VSF +15%. In contrast, Lyocell is down 5%. VSF prices in the green again this week: Sateri and Tangshan Sanyou are seeing strong interest for medium-grade VSF around...
by Sean Ungerer | Jul 14, 2021 | Forestry and Paper
Europe pulp prices rise further, while China prices in the red again: Despite European pulp prices rising further, producers had to settle for less than planned despite strong demand. Momentum could now be hampered by prices moderating in China. Softwood producers...
