Research
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Forestry & Paper: Industry Insights
Key message: Pulp prices gain further traction in China, with more increases on the cards. Graphic paper extends gains (but inclusive of energy surcharges).
Forestry & Paper: Textiles Fibre Insights
Key message: Cotton, polyester & VSF all in the green. VSF inventory days down again to 17 & average op. rate improves further to 84%. VSF theoretical profit improved but still in the red at -USD 72/t (VSF/DWP spread +10% YTD). Spot DWP remains at USD 905/t.
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Cashbuild – 2022 Update
Key message: Sales have slowed down (adjusted for looting impact) after the DIY boom post-Covid. This was well flagged.
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SA Banks
BA900 – Nov 21. Absa in a class of its own Annual growth rates in the SARB’s gross loans and advances category accelerated from 2.5% in October to 5.2% in November, rising an impressive 2.5% MoM. The rise emanated mainly from Corporate lending (+3.3%). Retail...
FORESTRY & PAPER: Industry Insights
Key message: Pulp, Paper & Packaging end 2021 in the green. Good start to the year for Graphic Paper & containerboard sets new highs.
FORESTRY & PAPER: Textile Fibre Insights
Key message: Cotton, polyester & VSF start the year well. VSF inventory days down to 22 & average op. rate improves to 79%. VSF theoretical profit remains in the red at -USD 118/t (VSF/DWP spread +5% YTD). Spot DWP still USD 905/t.
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F&P: Industry Insights
Key message: Pulp prices start to rise in China, while European prices finally to ease. Graphic Paper prices continue to improve and the kraftliner prices reaches a new record high.