by Sean Ungerer | Oct 15, 2020 | Forestry and Paper
Underlying EBITDA down 20% y/y to EUR 306mn: As expected, the quarter was impacted by lower average selling prices across the board and adverse FX, offsetting relief from lower costs. The planned maintenance shuts impacted EBITDA by EUR 35mn (Q3 19A: EUR...
by Sean Ungerer | Oct 6, 2020 | Forestry and Paper
DWP demand is down around 8% or 600kt: This has forced suppliers to act in order to rebalance the market. LT DWP drivers remain intact with planned viscose fibre (VSF) expansions of c.1mtpa (55% Lycocell and 45% commodity VSF). Additional Lycocel capacity in China...
by Sean Ungerer | Oct 6, 2020 | Forestry and Paper
Global Printing & Board (P&B) production is expected to decline by 7% in CY 20e: This equates to a decline of 27mt, in line with the global financial crisis. Graphic Paper to be hit the hardest (-13%), followed by Packaging (-7%), while Tissue demand (+4%) is...
by Sean Ungerer | Oct 2, 2020 | Forestry and Paper
Chinese RCP buying now mostly done: Most of the 2020 import quotas have been filled as RCP from the US and Europe takes up to 45-60 days to reach China.Jan-August 2020 China RCP imports down 47% to 3.8mt: August imports have mimicked the trend seen in 2020 in...
by Sean Ungerer | Sep 23, 2020 | Forestry and Paper
China recovered paper (RCP) ban in a nutshell: In Q3 17A, China notified the WTO of its ban on mixed paper imports effective 1 Jan 2018. In March 2019, China set a strict 0.5% contaminant rule on all other recovered paper imports. In June 2020, the Chinese Ministry of...
by Sean Ungerer | Sep 14, 2020 | Forestry and Paper
Week ahead: 1/1 calls with Valmet, Stora Enso, International Paper and Mondi. European corrugated shipments mixed for first seven months due to tourism or lack thereof: Germany (+0.3%) and Austria (+0.1%), while Poland, Czech Republic, Russia and Turkey have...
